Ingles Markets, Incorporated (IMKTA) Receives Consensus Rating of “Strong Buy” from Brokerages

Ingles Markets, Incorporated (NASDAQ:IMKTA) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Zacks has also given Ingles Markets an industry rank of 115 out of 265 based on the ratings given to related companies.

IMKTA has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Ingles Markets from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub upgraded Ingles Markets from a “hold” rating to a “buy” rating in a report on Tuesday, December 12th. Finally, TheStreet upgraded Ingles Markets from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th.

Ingles Markets (NASDAQ IMKTA) opened at $36.15 on Friday. The company has a market capitalization of $738.52, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 3.93 and a beta of 0.73. The company has a current ratio of 1.82, a quick ratio of 0.39 and a debt-to-equity ratio of 1.69. Ingles Markets has a 52-week low of $20.75 and a 52-week high of $48.35.

Ingles Markets (NASDAQ:IMKTA) last posted its earnings results on Thursday, December 7th. The company reported $0.96 earnings per share for the quarter. Ingles Markets had a return on equity of 10.92% and a net margin of 1.35%. The firm had revenue of $1.09 billion for the quarter. equities research analysts forecast that Ingles Markets will post 2.85 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Thursday, January 11th were issued a dividend of $0.165 per share. The ex-dividend date was Wednesday, January 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.83%. Ingles Markets’s dividend payout ratio (DPR) is 24.81%.

Several hedge funds have recently bought and sold shares of IMKTA. Rhumbline Advisers grew its stake in shares of Ingles Markets by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 17,867 shares of the company’s stock worth $595,000 after buying an additional 450 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Ingles Markets by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,648 shares of the company’s stock worth $388,000 after buying an additional 450 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Ingles Markets by 2.7% in the 2nd quarter. Teachers Advisors LLC now owns 25,003 shares of the company’s stock worth $833,000 after buying an additional 659 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Ingles Markets by 11.7% in the 2nd quarter. Voya Investment Management LLC now owns 8,252 shares of the company’s stock worth $275,000 after buying an additional 864 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Ingles Markets by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,092 shares of the company’s stock worth $4,299,000 after buying an additional 1,974 shares during the last quarter. Hedge funds and other institutional investors own 59.42% of the company’s stock.

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About Ingles Markets

Ingles Markets, Incorporated (Ingles) is a supermarket chain in the southeast United States. The Company’s segments include retail grocery and other. Its other segment consists of fluid dairy operations and shopping center rentals. As of September 24, 2016, the Company operated 201 supermarkets in Georgia, North Carolina, South Carolina, Tennessee, Virginia and Alabama.

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