Ingles Markets (NASDAQ:IMKTA) Cut to “Hold” at BidaskClub

Ingles Markets (NASDAQ:IMKTA) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday, BidAskClub reports.

IMKTA has been the topic of several other reports. ValuEngine cut shares of Ingles Markets from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research cut shares of Ingles Markets from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th.

Shares of Ingles Markets stock opened at $35.81 on Friday. The company has a current ratio of 2.05, a quick ratio of 0.47 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $736.01 million, a price-to-earnings ratio of 9.40, a P/E/G ratio of 0.83 and a beta of 0.68. Ingles Markets has a 1-year low of $25.57 and a 1-year high of $49.14. The firm’s 50-day moving average price is $37.11 and its two-hundred day moving average price is $41.24.

Ingles Markets (NASDAQ:IMKTA) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.87 EPS for the quarter. Ingles Markets had a net margin of 1.83% and a return on equity of 11.80%. The business had revenue of $1.08 billion for the quarter. As a group, equities research analysts predict that Ingles Markets will post 4.3 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Martingale Asset Management L P lifted its holdings in Ingles Markets by 170.1% in the fourth quarter. Martingale Asset Management L P now owns 97,533 shares of the company’s stock valued at $4,634,000 after buying an additional 61,425 shares during the period. Mackay Shields LLC lifted its holdings in Ingles Markets by 287.4% in the fourth quarter. Mackay Shields LLC now owns 43,000 shares of the company’s stock valued at $2,043,000 after buying an additional 31,900 shares during the period. AQR Capital Management LLC lifted its holdings in Ingles Markets by 24.9% in the fourth quarter. AQR Capital Management LLC now owns 132,120 shares of the company’s stock valued at $6,277,000 after buying an additional 26,370 shares during the period. Bessemer Group Inc. lifted its holdings in Ingles Markets by 152.4% in the fourth quarter. Bessemer Group Inc. now owns 42,900 shares of the company’s stock valued at $2,038,000 after buying an additional 25,900 shares during the period. Finally, Barclays PLC lifted its holdings in Ingles Markets by 202.8% in the fourth quarter. Barclays PLC now owns 34,460 shares of the company’s stock valued at $1,636,000 after buying an additional 23,080 shares during the period. 66.10% of the stock is currently owned by institutional investors and hedge funds.

Ingles Markets Company Profile

Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. Its supermarkets offer various food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, such as fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.

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