Morgan Stanley Initiates Coverage on Ingram Micro (NYSE:INGM)

Morgan Stanley began coverage on shares of Ingram Micro (NYSE:INGM) in a research report released on Monday morning, Marketbeat reports. The firm issued an equal weight rating and a $24.00 price objective on the stock.

A number of other research firms have also recently commented on INGM. Jefferies Financial Group started coverage on Ingram Micro in a research report on Monday. They set a “buy” rating and a $28.00 target price on the stock. Raymond James began coverage on Ingram Micro in a research note on Monday. They issued an “outperform” rating and a $28.00 price objective for the company. BNP Paribas started coverage on shares of Ingram Micro in a research report on Monday. They set a “neutral” rating and a $25.00 target price on the stock. Royal Bank of Canada started coverage on shares of Ingram Micro in a research report on Monday. They issued an “outperform” rating and a $26.00 price target for the company. Finally, Bank of America started coverage on shares of Ingram Micro in a research note on Monday. They issued a “buy” rating and a $30.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $27.92.

Ingram Micro Trading Down 3.8 %

Shares of INGM opened at $21.91 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93. Ingram Micro has a 52-week low of $21.84 and a 52-week high of $25.69.

Ingram Micro (NYSE:INGM) last posted its earnings results on Tuesday, November 12th. The company reported $0.72 EPS for the quarter. The company had revenue of $11.76 billion during the quarter.

About Ingram Micro

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.