Ingles Markets, Incorporated (IMKTA) Receives Consensus Recommendation 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 rating.

Zacks has also assigned Ingles Markets an industry rank of 168 out of 265 based on the ratings given to related companies.

Several analysts have recently weighed in on IMKTA shares. TheStreet upgraded Ingles Markets from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. BidaskClub upgraded Ingles Markets from a “hold” rating to a “buy” rating in a research note on Tuesday, December 12th. Finally, Zacks Investment Research lowered Ingles Markets from a “buy” rating to a “hold” rating in a research note on Thursday.

Institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC purchased a new position in Ingles Markets in the third quarter valued at about $11,931,000. Citadel Advisors LLC grew its stake in Ingles Markets by 550.3% in the third quarter. Citadel Advisors LLC now owns 119,355 shares of the company’s stock valued at $3,067,000 after purchasing an additional 101,000 shares during the last quarter. Prudential Financial Inc. grew its stake in Ingles Markets by 29.9% in the third quarter. Prudential Financial Inc. now owns 347,596 shares of the company’s stock valued at $8,933,000 after purchasing an additional 79,940 shares during the last quarter. Dupont Capital Management Corp purchased a new position in Ingles Markets in the third quarter valued at about $1,435,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Ingles Markets by 148.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 91,486 shares of the company’s stock valued at $3,046,000 after purchasing an additional 54,600 shares during the last quarter. Hedge funds and other institutional investors own 59.50% of the company’s stock.

Ingles Markets (NASDAQ IMKTA) traded up $1.80 during trading hours on Friday, hitting $31.95. The stock had a trading volume of 133,138 shares, compared to its average volume of 99,167. Ingles Markets has a fifty-two week low of $20.75 and a fifty-two week high of $48.35. The company has a market capitalization of $610.81, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 3.31 and a beta of 0.60. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.39 and a current ratio of 1.82.

Ingles Markets (NASDAQ:IMKTA) last released 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 business had revenue of $1.09 billion during the quarter. analysts forecast that Ingles Markets will post 2.85 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Stockholders of record on Thursday, January 11th were paid a dividend of $0.165 per share. The ex-dividend date was Wednesday, January 10th. This represents a $0.66 annualized dividend and a dividend yield of 2.07%. Ingles Markets’s dividend payout ratio is currently 24.81%.

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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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