Zacks: Ingles Markets, Incorporated (NASDAQ:IMKTA) Receives Average Rating of “Strong Buy” from Analysts
Ingles Markets, Incorporated (NASDAQ:IMKTA) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Brokers have set a 1 year consensus target price of $67.00 for the company, according to Zacks. Zacks has also assigned Ingles Markets an industry rank of 97 out of 255 based on the ratings given to related companies.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Ingles Markets from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. BidaskClub raised shares of Ingles Markets from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Quantamental Technologies LLC acquired a new position in Ingles Markets in the second quarter valued at approximately $30,000. New York State Teachers Retirement System acquired a new position in Ingles Markets in the second quarter valued at approximately $37,000. Northwest Investment Counselors LLC acquired a new position in Ingles Markets in the third quarter valued at approximately $40,000. Bank of Montreal Can boosted its holdings in Ingles Markets by 86.1% in the second quarter. Bank of Montreal Can now owns 2,484 shares of the company’s stock valued at $77,000 after purchasing an additional 1,149 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Ingles Markets by 21.9% in the second quarter. JPMorgan Chase & Co. now owns 6,244 shares of the company’s stock valued at $197,000 after purchasing an additional 1,123 shares in the last quarter. 66.11% of the stock is owned by hedge funds and other institutional investors.
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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