Ingles Markets (NASDAQ:IMKTA) Upgraded at Wall Street Zen

Ingles Markets (NASDAQ:IMKTA) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Ingles Markets in a research report on Tuesday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Ingles Markets currently has an average rating of “Hold”.

Ingles Markets Price Performance

IMKTA stock opened at $76.94 on Friday. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 25.90 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.14 and a quick ratio of 1.53. The company has a 50 day simple moving average of $72.42 and a 200 day simple moving average of $67.33. Ingles Markets has a 1 year low of $58.92 and a 1 year high of $78.59.

Ingles Markets (NASDAQ:IMKTA) last posted its earnings results on Wednesday, November 26th. The company reported $1.35 earnings per share for the quarter. The firm had revenue of $1.37 billion for the quarter. Ingles Markets had a net margin of 1.05% and a return on equity of 3.60%.

Institutional Investors Weigh In On Ingles Markets

A number of institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Ingles Markets by 3.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,817 shares of the company’s stock worth $272,000 after acquiring an additional 144 shares during the last quarter. Parallel Advisors LLC increased its position in Ingles Markets by 14.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,561 shares of the company’s stock valued at $109,000 after purchasing an additional 197 shares during the period. Significant Wealth Partners LLC raised its holdings in Ingles Markets by 2.8% during the 2nd quarter. Significant Wealth Partners LLC now owns 7,390 shares of the company’s stock worth $468,000 after purchasing an additional 204 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Ingles Markets by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,163 shares of the company’s stock valued at $327,000 after purchasing an additional 209 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its position in shares of Ingles Markets by 7.4% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,135 shares of the company’s stock worth $199,000 after buying an additional 215 shares during the period. Institutional investors own 62.54% of the company’s stock.

About Ingles Markets

Ingles Markets, Incorporated, together with its subsidiaries, operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.