Ingram Micro (NYSE:INGM) Upgraded at Zacks Research

Zacks Research upgraded shares of Ingram Micro (NYSE:INGM) from a strong sell rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

A number of other research firms also recently issued reports on INGM. The Goldman Sachs Group downgraded shares of Ingram Micro from a “strong-buy” rating to a “neutral” rating and set a $24.00 price objective for the company. in a report on Tuesday, January 13th. Wall Street Zen upgraded Ingram Micro from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $24.00 price objective on shares of Ingram Micro in a report on Monday, December 15th. Royal Bank Of Canada reissued an “outperform” rating and set a $24.00 price objective on shares of Ingram Micro in a report on Monday, December 22nd. Finally, Morgan Stanley dropped their target price on Ingram Micro from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ingram Micro presently has an average rating of “Hold” and a consensus target price of $24.44.

Ingram Micro Stock Performance

Shares of INGM opened at $20.48 on Monday. Ingram Micro has a 12-month low of $14.25 and a 12-month high of $23.93. The company has a current ratio of 1.41, a quick ratio of 0.95 and a debt-to-equity ratio of 0.75. The company has a market cap of $4.81 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 0.72 and a beta of 2.32. The stock has a 50-day moving average price of $21.41 and a 200-day moving average price of $21.17.

Institutional Investors Weigh In On Ingram Micro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. increased its position in Ingram Micro by 1.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 48,618 shares of the company’s stock valued at $1,038,000 after buying an additional 658 shares in the last quarter. CWM LLC grew its stake in shares of Ingram Micro by 20.5% in the fourth quarter. CWM LLC now owns 4,144 shares of the company’s stock worth $88,000 after acquiring an additional 705 shares during the last quarter. Gotham Asset Management LLC increased its holdings in shares of Ingram Micro by 1.0% during the fourth quarter. Gotham Asset Management LLC now owns 77,662 shares of the company’s stock valued at $1,657,000 after acquiring an additional 732 shares in the last quarter. Covestor Ltd increased its holdings in shares of Ingram Micro by 15.4% during the fourth quarter. Covestor Ltd now owns 5,669 shares of the company’s stock valued at $121,000 after acquiring an additional 756 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Ingram Micro by 6.3% in the 2nd quarter. Rhumbline Advisers now owns 13,646 shares of the company’s stock worth $284,000 after purchasing an additional 803 shares during the last quarter.

Ingram Micro Company Profile

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.