Ingram Micro (NYSE:INGM) Upgraded to “Buy” at Wall Street Zen

Ingram Micro (NYSE:INGM) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Friday.

Several other research firms have also recently commented on INGM. Morgan Stanley cut Ingram Micro from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $23.00 to $22.00 in a research note on Wednesday, June 11th. The Goldman Sachs Group decreased their price target on shares of Ingram Micro from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Zacks Research upgraded shares of Ingram Micro from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Raymond James Financial reduced their price objective on shares of Ingram Micro from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ingram Micro from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.79.

Ingram Micro Trading Up 1.7%

INGM opened at $20.03 on Friday. The firm’s 50 day moving average is $20.12 and its 200-day moving average is $19.40. Ingram Micro has a 52-week low of $14.25 and a 52-week high of $25.69. The company has a quick ratio of 0.93, a current ratio of 1.39 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $4.70 billion and a P/E ratio of 17.26.

Ingram Micro (NYSE:INGM) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Ingram Micro had a net margin of 0.53% and a return on equity of 17.33%. The business had revenue of $12.79 billion during the quarter, compared to analyst estimates of $11.99 billion. Analysts expect that Ingram Micro will post 2.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Ingram Micro

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new stake in shares of Ingram Micro during the 2nd quarter worth approximately $1,099,000. BNP Paribas Financial Markets grew its stake in Ingram Micro by 1,079.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 106,766 shares of the company’s stock worth $2,225,000 after buying an additional 97,716 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Ingram Micro in the second quarter worth $1,512,000. Ameriprise Financial Inc. lifted its stake in Ingram Micro by 10.0% in the second quarter. Ameriprise Financial Inc. now owns 1,030,021 shares of the company’s stock valued at $21,466,000 after buying an additional 93,954 shares during the last quarter. Finally, Occudo Quantitative Strategies LP bought a new stake in Ingram Micro in the second quarter valued at $762,000.

Ingram Micro Company Profile

Ingram Micro is a leading solutions provider by revenue for the global information technology (“IT”) ecosystem helping power the world’s leading technology brands. With our vast infrastructure and focus on client and endpoint solutions (formerly referred to as commercial & consumer, as described elsewhere in this prospectus), advanced solutions offerings and cloud-based solutions, we enable our business partners to scale and operate more efficiently in the markets they serve.