Ingram Micro Holding Corporation (NYSE:INGM) Receives Average Recommendation of “Hold” from Brokerages

Shares of Ingram Micro Holding Corporation (NYSE:INGM) have been given an average rating of “Hold” by the eleven research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $24.4444.

A number of brokerages have weighed in on INGM. The Goldman Sachs Group lowered Ingram Micro from a “strong-buy” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a report on Tuesday, January 13th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $24.00 price target on shares of Ingram Micro in a report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingram Micro in a report on Monday, December 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $24.00 target price on shares of Ingram Micro in a report on Monday, December 22nd. Finally, Zacks Research lowered shares of Ingram Micro from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Synergy Asset Management LLC acquired a new position in shares of Ingram Micro during the 3rd quarter worth $2,262,000. Pullen Investment Management LLC increased its holdings in Ingram Micro by 36.1% during the 2nd quarter. Pullen Investment Management LLC now owns 92,508 shares of the company’s stock valued at $1,928,000 after acquiring an additional 24,531 shares in the last quarter. AXQ Capital LP acquired a new position in Ingram Micro during the second quarter worth about $432,000. Lind Value II ApS purchased a new stake in shares of Ingram Micro in the second quarter valued at about $24,995,000. Finally, American Century Companies Inc. lifted its holdings in shares of Ingram Micro by 24.0% in the second quarter. American Century Companies Inc. now owns 2,859,753 shares of the company’s stock valued at $59,597,000 after purchasing an additional 552,620 shares in the last quarter.

Ingram Micro Stock Up 1.1%

INGM stock opened at $21.66 on Wednesday. The stock has a market capitalization of $5.09 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 0.77 and a beta of 2.32. The company has a fifty day moving average of $21.61 and a 200-day moving average of $21.05. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.95 and a current ratio of 1.41. Ingram Micro has a one year low of $14.25 and a one year high of $24.17.

About Ingram Micro

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro’s end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company’s offerings are organized across several core areas.