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

Wall Street Zen upgraded shares of Ingram Micro (NYSE:INGM) from a hold rating to a buy rating in a report released on Saturday morning.

INGM has been the topic of a number of other research reports. Zacks Research downgraded Ingram Micro from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $24.00 target price on shares of Ingram Micro in a research report on Monday, December 22nd. 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. reaffirmed an “underweight” rating and issued a $24.00 price target on shares of Ingram Micro in a research note on Monday, December 15th. Finally, 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 on the stock. in a research note on Tuesday, January 13th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.44.

Ingram Micro Price Performance

Shares of NYSE INGM opened at $21.42 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.41 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average price is $21.61 and its two-hundred day moving average price is $21.05. The company has a market cap of $5.04 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 0.78 and a beta of 2.32. Ingram Micro has a twelve month low of $14.25 and a twelve month high of $24.33.

Hedge Funds Weigh In On Ingram Micro

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Synergy Asset Management LLC bought a new stake in shares of Ingram Micro during the 3rd quarter valued at about $2,262,000. Pullen Investment Management LLC lifted its stake in Ingram Micro by 36.1% in the second quarter. Pullen Investment Management LLC now owns 92,508 shares of the company’s stock valued at $1,928,000 after buying an additional 24,531 shares during the period. AXQ Capital LP acquired a new position in Ingram Micro in the second quarter valued at approximately $432,000. Lind Value II ApS bought a new position in shares of Ingram Micro during the 2nd quarter worth approximately $24,995,000. Finally, American Century Companies Inc. grew its position in shares of Ingram Micro by 24.0% during the 2nd quarter. American Century Companies Inc. now owns 2,859,753 shares of the company’s stock worth $59,597,000 after buying an additional 552,620 shares during the period.

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.