Ingles Markets (NASDAQ:IMKTA) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Ingles Markets (NASDAQ:IMKTA) from a hold rating to a buy rating in a report released on Monday morning.

Ingles Markets Trading Down 2.5 %

Shares of Ingles Markets stock opened at $63.71 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 2.99. The company has a market capitalization of $1.21 billion, a P/E ratio of 7.58 and a beta of 0.74. Ingles Markets has a 1 year low of $59.73 and a 1 year high of $89.59. The company’s fifty day moving average is $68.65 and its two-hundred day moving average is $70.35.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings data 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 Investors Weigh In On Ingles Markets

Institutional investors have recently modified their holdings of the company. River Road Asset Management LLC grew its stake in Ingles Markets by 7.1% in the 3rd quarter. River Road Asset Management LLC now owns 971,026 shares of the company’s stock valued at $72,439,000 after acquiring an additional 64,296 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Ingles Markets by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 405,558 shares of the company’s stock valued at $30,255,000 after purchasing an additional 31,027 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Ingles Markets by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 399,190 shares of the company’s stock worth $29,785,000 after purchasing an additional 14,264 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of Ingles Markets by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 376,100 shares of the company’s stock worth $25,804,000 after purchasing an additional 1,000 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Ingles Markets by 9.5% during the 2nd quarter. American Century Companies Inc. now owns 369,184 shares of the company’s stock worth $25,330,000 after purchasing an additional 32,013 shares during the last quarter. Hedge funds and other 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.