Weiss Ratings Reiterates "Hold (C-)" Rating for Ingles Markets (NASDAQ:IMKTA)

Key Points

• Weiss Ratings has reiterated a "Hold (C-)" rating for Ingles Markets (NASDAQ:IMKTA), signaling a cautious outlook on the stock.
• Ingles Markets reported a quarterly earnings per share (EPS) of $1.38, with a net margin of 1.05% and a return on equity of 3.60%.
• Recent institutional trading saw significant increases in holdings, with Huntington National Bank raising its stake by a staggering 45,500% during the second quarter.

Ingles Markets (NASDAQ:IMKTA - Get Free Report)'s stock had its "hold (c-)" rating reiterated by research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Ingles Markets Price Performance

NASDAQ IMKTA opened at $72.56 on Wednesday. The company has a market capitalization of $1.38 billion, a PE ratio of 24.43 and a beta of 0.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.53 and a current ratio of 3.14. The business's fifty day moving average is $67.45 and its 200 day moving average is $64.63. Ingles Markets has a fifty-two week low of $58.92 and a fifty-two week high of $75.63.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.38 EPS for the quarter. Ingles Markets had a return on equity of 3.60% and a net margin of 1.05%.

Institutional Trading of Ingles Markets

A number of large investors have recently modified their holdings of the company. Huntington National Bank lifted its holdings in Ingles Markets by 45,500.0% during the second quarter. Huntington National Bank now owns 456 shares of the company's stock worth $29,000 after buying an additional 455 shares during the period. Signaturefd LLC increased its position in shares of Ingles Markets by 82.5% during the second quarter. Signaturefd LLC now owns 522 shares of the company's stock worth $33,000 after purchasing an additional 236 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Ingles Markets by 192.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 632 shares of the company's stock valued at $40,000 after acquiring an additional 416 shares during the period. Summer Road LLC increased its position in shares of Ingles Markets by 125.0% in the 1st quarter. Summer Road LLC now owns 1,800 shares of the company's stock valued at $115,000 after acquiring an additional 1,000 shares during the period. Finally, Anchor Investment Management LLC increased its position in shares of Ingles Markets by 85.0% in the 1st quarter. Anchor Investment Management LLC now owns 1,850 shares of the company's stock valued at $120,000 after acquiring an additional 850 shares during the period. Hedge funds and other institutional investors own 62.54% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.