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

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

Zacks has also given Ingles Markets an industry rank of 50 out of 265 based on the ratings given to its competitors.

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

Shares of Ingles Markets (NASDAQ IMKTA) traded up $0.25 during midday trading on Monday, reaching $35.40. The company’s stock had a trading volume of 140,890 shares, compared to its average volume of 82,158. The firm has a market capitalization of $702.99, a P/E ratio of 13.31, a PEG ratio of 3.80 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 1 year low of $20.75 and a 1 year high of $50.20.

Several hedge funds have recently modified their holdings of the stock. Gamco Investors INC. ET AL boosted its stake in shares of Ingles Markets by 4.0% in the third quarter. Gamco Investors INC. ET AL now owns 1,266,402 shares of the company’s stock valued at $32,547,000 after buying an additional 48,893 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Ingles Markets by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,184,752 shares of the company’s stock valued at $30,448,000 after buying an additional 3,984 shares during the period. Vanguard Group Inc. boosted its stake in shares of Ingles Markets by 3.3% in the second quarter. Vanguard Group Inc. now owns 1,032,352 shares of the company’s stock valued at $34,378,000 after buying an additional 33,192 shares during the period. Gabelli Funds LLC boosted its stake in shares of Ingles Markets by 0.4% in the third quarter. Gabelli Funds LLC now owns 934,600 shares of the company’s stock valued at $24,019,000 after buying an additional 4,000 shares during the period. Finally, Janus Henderson Group PLC bought a new stake in shares of Ingles Markets in the third quarter valued at approximately $11,931,000. Institutional investors and hedge funds own 59.40% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another website, it was stolen and reposted in violation of United States & international copyright legislation. The correct version of this article can be read at https://ledgergazette.com/2018/01/12/zacks-ingles-markets-incorporated-imkta-receives-consensus-recommendation-of-strong-buy-from-brokerages.html.

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.

Get a free copy of the Zacks research report on Ingles Markets (IMKTA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ingles Markets Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingles Markets and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply