Analysts Offer Predictions for Ingles Markets, Incorporated’s FY2020 Earnings (NASDAQ:IMKTA)

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Ingles Markets, Incorporated (NASDAQ:IMKTA) – Equities researchers at G.Research issued their FY2020 earnings estimates for Ingles Markets in a research note issued to investors on Wednesday, December 11th. G.Research analyst D. Witkowski expects that the company will post earnings of $4.30 per share for the year. G.Research also issued estimates for Ingles Markets’ FY2021 earnings at $4.70 EPS, FY2022 earnings at $5.10 EPS and FY2023 earnings at $5.65 EPS.

IMKTA has been the subject of several other research reports. Zacks Investment Research downgraded shares of Ingles Markets from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. BidaskClub upgraded Ingles Markets from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th.

NASDAQ:IMKTA opened at $45.79 on Friday. The company has a market capitalization of $918.54 million, a PE ratio of 11.36, a P/E/G ratio of 0.74 and a beta of 0.36. Ingles Markets has a fifty-two week low of $25.57 and a fifty-two week high of $46.56. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.47 and a current ratio of 2.01. The company has a 50 day simple moving average of $42.65 and a two-hundred day simple moving average of $36.80.

Several institutional investors and hedge funds have recently modified their holdings of IMKTA. Janus Henderson Group PLC lifted its position in Ingles Markets by 67.3% in the second quarter. Janus Henderson Group PLC now owns 887,453 shares of the company’s stock valued at $27,626,000 after purchasing an additional 356,987 shares during the last quarter. Vanguard Group Inc. grew its stake in Ingles Markets by 6.0% in the second quarter. Vanguard Group Inc. now owns 1,053,931 shares of the company’s stock worth $32,808,000 after purchasing an additional 59,330 shares during the period. Wells Fargo & Company MN grew its stake in Ingles Markets by 32.2% in the second quarter. Wells Fargo & Company MN now owns 202,623 shares of the company’s stock worth $6,308,000 after purchasing an additional 49,312 shares during the period. Hancock Whitney Corp purchased a new stake in Ingles Markets in the third quarter worth $1,139,000. Finally, Denali Advisors LLC grew its stake in Ingles Markets by 99.2% in the third quarter. Denali Advisors LLC now owns 53,708 shares of the company’s stock worth $2,087,000 after purchasing an additional 26,745 shares during the period. Hedge funds and other institutional investors own 66.11% of the company’s stock.

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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Earnings History and Estimates for Ingles Markets (NASDAQ:IMKTA)

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