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Recently, shares of Ingles Markets came under pressure, in large part because of bottom line weakness. This may deter some investors from buying into the retail chain, but shares still look cheap even if we assume this weakness will continue.
Ingles Markets has been a solid play relative to the broader market, with sales and cash flows increasing. Profits have struggled a bit, but the overall health of the company looks to be intact.
Ingles Markets continues to fare well compared to the broader market, but this doesn't change the fact that the business appears robust. Growth continues, but we have seen a bit of weakness on the bottom line.
Ingles Markets has continued its remarkable progress into the current fiscal year. Investors have been beneficiaries of this strength, with a stock that has outperformed the broader market recently.
Ingles Markets, Incorporated (NASDAQ:IMKTA) is an American supermarket chain that operates approximately 200 supermarkets in six southeastern states.
As investors await a key monetary policy announcement from the Federal Reserve later this week, U.S. market indexes recorded a mixed performance on Tuesday.
March Quarter +40% YoY EPS, +16.3% YoY net sales. 8.9x P/E on FY2022 estimates.
Ingles Markets has performed well in recent months in virtually every manner possible. Fundamentally, the company looks robust and this strength is likely to continue moving forward.