This regional supermarket also gets a nod from Zacks, scoring an ‘A’ on its VGM (value, growth, momentum score). And In the last 30 days, analysts have increased its current-year earnings estimate by14.7%.
Ingles Markets Incorporated (IMKTA)
From The National Investor
At long last Ingles Markets Incorporated has awakened from somewhat of a stupor and has been on a sudden tear. With it now in overbought territory I am dialing things back just a bit to an “Accumulate” rating; but I do like IMKTA going forward still as both a defensive stock and one that is a deep-value play regardless of the overall market.
My favorite regional grocer continues to post impressive numbers; its latest for fiscal Q3 at https://www.inglesmarkets.com/corporate/cg2/investor/financial-press-releases/press-release-080819.
Its metrics render IMKTA less expensive (at a P.E. of under 10) than, say, a Kroger (KR) at a P.E. ratio of 12 or so. Though Kroger has a higher dividend (IMKTA’s has been static at its present level for years) Ingles is the better growth story, in my opinion. As I have pointed out many a time, its presence in the most demographically-attractive part of America, and a lot of real estate holdings, paint a rosy future.
Chris Temple, The National Investor, www.nationalinvestor.com, 224-308-2587, September 26, 2019