Ingles Markets - Stock Of The Day

Summary

• 100% technical buy signals.
• 14 new highs and up 24.37% in the last month.
• 70.06% gain in the last year.

The Barchart Chart of the Day belongs to the southeastern grocery chain

Ingles Markets (IMKTA).   I found the stock by using Barchart's powerful screening tools to find the stocks with the highest Weighted Alpha and technical buy signals. After I sorted for the most frequent number of new highs in the last month, I used the Flipchart feature to review the charts for consistent prices appreciation. Since the Trend Spotter signaled a buy on 12/8 the stock gained 53.51%.  

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. The company also provides home meal replacement items, delicatessens, bakeries, floral departments, and greeting cards, as well as organic, beverage, and health-related items. As of September 26, 2020, it operated 188 supermarkets under the Ingles name; and nine supermarkets under the Sav-Mor name in western North Carolina, western South Carolina, northern Georgia, eastern Tennessee, southwestern Virginia, and northeastern Alabama, as well as 109 pharmacies and 106 fuel stations. In addition, it is involved in fluid dairy operations and shopping center rental businesses. Ingles Markets, Incorporated was founded in 1963 and is headquartered in Asheville, North Carolina.

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart technical indicators:

• 100% technical buy signals
• 112.52+ Weighted Alpha
• 70.06% gain in the last year
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 14 new highs in the last month
• Relative Strength Index 79.53%
• Technical support level at 61.84
• Recently traded at 64.64 with a 50 day moving average of 52.00

Fundamental factors:

• Market Cap $1.28 billion
• P/E 5.74
• Dividend yield 1.08%
• Revenue expected to be down by 3.80% this year but up again by 2.80% next year
• Earnings are estimated to have an annual compounded growth rate of 14.50% for the next 5 years
• Wall Street analysts issued 1 strong buy recommendation on the stock
• The individual investors following the stock on Motley Fool voted 87 to 9 that the stock will beat the market
• 2,280 investors are monitoring the stock on Seeking Alpha

The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stock are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.