Ingles Markets (NASDAQ:IMKTA) Cut to “Hold” at StockNews.com

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

Ingles Markets Trading Up 1.7 %

NASDAQ IMKTA opened at $65.58 on Monday. The business’s 50-day moving average price is $66.17 and its two-hundred day moving average price is $68.96. Ingles Markets has a 12 month low of $59.73 and a 12 month high of $82.01. The firm has a market capitalization of $1.25 billion, a PE ratio of 15.84 and a beta of 0.75. The company has a current ratio of 2.89, a quick ratio of 1.45 and a debt-to-equity ratio of 0.33.

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 return on equity of 5.11% and a net margin of 1.45%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IMKTA. GAMMA Investing LLC lifted its stake in shares of Ingles Markets by 413.9% in the 3rd quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock valued at $30,000 after purchasing an additional 327 shares during the period. CWM LLC raised 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 during the period. FNY Investment Advisers LLC acquired a new position in Ingles Markets during the 4th quarter worth approximately $96,000. Caprock Group LLC acquired a new position in Ingles Markets during the 3rd quarter worth approximately $203,000. Finally, EntryPoint Capital LLC acquired a new position in Ingles Markets during the 4th quarter worth approximately $204,000. 62.54% of the stock is owned by institutional investors and hedge funds.

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.