StockNews.com Downgrades Ingles Markets (NASDAQ:IMKTA) to Hold

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 Tuesday.

Ingles Markets Stock Down 1.6 %

IMKTA opened at $67.27 on Tuesday. Ingles Markets has a twelve month low of $59.73 and a twelve month high of $89.59. The company’s 50-day moving average price is $68.19 and its two-hundred day moving average price is $70.62. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 8.01 and a beta of 0.74. The company has a quick ratio of 1.49, a current ratio of 2.99 and a debt-to-equity ratio of 0.34.

Institutional Trading of Ingles Markets

A number of institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in Ingles Markets by 240.9% in the 2nd quarter. CWM LLC now owns 433 shares of the company’s stock valued at $30,000 after purchasing an additional 306 shares during the period. Summit Global Investments boosted its stake in Ingles Markets by 4.2% during the second quarter. Summit Global Investments now owns 12,177 shares of the company’s stock valued at $835,000 after buying an additional 495 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ingles Markets by 59.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,927 shares of the company’s stock worth $201,000 after buying an additional 1,092 shares in the last quarter. Innealta Capital LLC bought a new position in Ingles Markets in the 2nd quarter worth about $74,000. Finally, Signaturefd LLC increased its stake in Ingles Markets by 101.0% in the 2nd quarter. Signaturefd LLC now owns 1,003 shares of the company’s stock worth $69,000 after acquiring an additional 504 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.