Ingram Micro (NYSE:INGM) Sets New 52-Week Low – Should You Sell?

Shares of Ingram Micro Holding Corp. (NYSE:INGM) hit a new 52-week low on Friday . The company traded as low as $21.04 and last traded at $21.17, with a volume of 53987 shares. The stock had previously closed at $21.60.

Wall Street Analyst Weigh In

INGM has been the subject of several analyst reports. Bank of America assumed coverage on shares of Ingram Micro in a research note on Monday, November 18th. They issued a “buy” rating and a $30.00 target price for the company. Loop Capital initiated coverage on Ingram Micro in a research note on Monday, November 18th. They issued a “buy” rating and a $30.00 price target on the stock. Morgan Stanley started coverage on Ingram Micro in a research note on Monday, November 18th. They issued an “equal weight” rating and a $24.00 target price on the stock. The Goldman Sachs Group initiated coverage on Ingram Micro in a report on Monday, November 18th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, Redburn Atlantic began coverage on shares of Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $30.00 price objective for the company. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Ingram Micro has an average rating of “Moderate Buy” and a consensus price target of $27.79.

Ingram Micro Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40.

Ingram Micro (NYSE:INGM) last issued its earnings results on Tuesday, November 12th. The company reported $0.72 earnings per share (EPS) for the quarter. The business had revenue of $11.76 billion for the quarter. Research analysts anticipate that Ingram Micro Holding Corp. will post 2.79 earnings per share for the current fiscal year.

Ingram Micro Company Profile

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.