Ingles Markets Inc. (NASDAQ:IMKTA)’s share price shot up 3.8% on Wednesday . The company traded as high as $39.09 and last traded at $39.08, with a volume of 52,323 shares. The stock had previously closed at $37.64.

Separately, Zacks Investment Research upgraded Ingles Markets from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th.

The firm has a market capitalization of $787.87 million and a PE ratio of 14.01. The company has a 50 day moving average price of $38.48 and a 200 day moving average price of $36.84.

In other Ingles Markets news, Director Sharp Laura Ingle sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $38.52, for a total value of $192,600.00. Following the transaction, the director now owns 4,043 shares of the company’s stock, valued at $155,736.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Ingles Markets, Incorporated is a supermarket chain. The Company operates approximately 70 supermarkets in Georgia, approximately 70 in North Carolina, approximately 40 in South Carolina, over 20 in Tennessee, approximately two in Virginia and approximately one in Alabama. The Company operates through retail grocery sales segment.

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