StockNews.com Upgrades Ingles Markets (NASDAQ:IMKTA) to Buy

Ingles Markets (NASDAQ:IMKTA) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Ingles Markets Stock Performance

NASDAQ IMKTA traded down $1.61 on Monday, hitting $63.71. 252,594 shares of the company’s stock traded hands, compared to its average volume of 104,445. The firm’s 50-day moving average price is $68.65 and its two-hundred day moving average price is $70.35. The firm has a market capitalization of $1.21 billion, a PE ratio of 7.58 and a beta of 0.74. The company has a current ratio of 2.99, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34. Ingles Markets has a 1-year low of $59.73 and a 1-year high of $89.59.

Ingles Markets (NASDAQ:IMKTA) last announced its quarterly earnings results on Friday, December 27th. The company reported ($0.08) earnings per share for the quarter. Ingles Markets had a return on equity of 10.58% and a net margin of 2.74%.

Institutional Trading of Ingles Markets

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of Ingles Markets by 413.9% during the third quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock worth $30,000 after purchasing an additional 327 shares in the last quarter. CWM LLC increased its stake in Ingles Markets by 75.5% during the 3rd quarter. CWM LLC now owns 760 shares of the company’s stock worth $57,000 after buying an additional 327 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Ingles Markets during the second quarter valued at approximately $69,000. Signaturefd LLC lifted its position in shares of Ingles Markets by 101.0% in the second quarter. Signaturefd LLC now owns 1,003 shares of the company’s stock valued at $69,000 after acquiring an additional 504 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Ingles Markets in the second quarter worth approximately $75,000. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Ingles Markets Company Profile

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.