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

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

Other research analysts have also recently issued research reports about the company. Morgan Stanley decreased their price target on Ingram Micro from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $24.00 price objective on shares of Ingram Micro in a research note on Monday, December 15th. Weiss Ratings restated a “hold (c)” rating on shares of Ingram Micro in a research report on Monday, December 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $24.00 price target on shares of Ingram Micro in a report on Monday, December 22nd. Finally, The Goldman Sachs Group cut shares of Ingram Micro from a “strong-buy” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a research note on Tuesday, January 13th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $24.44.

Ingram Micro Trading Up 4.0%

Shares of NYSE:INGM opened at $21.80 on Friday. The company has a market capitalization of $5.12 billion, a P/E ratio of 17.72, a P/E/G ratio of 0.75 and a beta of 2.32. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.41 and a quick ratio of 0.95. The business’s 50 day simple moving average is $21.61 and its 200 day simple moving average is $21.05. Ingram Micro has a 1 year low of $14.25 and a 1 year high of $24.33.

Institutional Investors Weigh In On Ingram Micro

Several hedge funds and other institutional investors have recently made changes to their positions in INGM. CWM LLC boosted its position in Ingram Micro by 125.7% in the second quarter. CWM LLC now owns 3,333 shares of the company’s stock valued at $69,000 after buying an additional 1,856 shares in the last quarter. Comerica Bank lifted its stake in shares of Ingram Micro by 2,844.2% in the 3rd quarter. Comerica Bank now owns 3,798 shares of the company’s stock valued at $82,000 after acquiring an additional 3,669 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Ingram Micro during the 3rd quarter valued at $110,000. PNC Financial Services Group Inc. boosted its holdings in shares of Ingram Micro by 855.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the company’s stock valued at $116,000 after acquiring an additional 4,835 shares in the last quarter. Finally, Covestor Ltd grew its position in Ingram Micro by 15.4% during the 4th quarter. Covestor Ltd now owns 5,669 shares of the company’s stock worth $121,000 after acquiring an additional 756 shares during the last quarter.

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.