Ingram Micro (NYSE:INGM) Upgraded by Zacks Research to Hold Rating

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

A number of other research analysts also recently issued reports on INGM. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of Ingram Micro in a research report on Monday, December 22nd. Wall Street Zen upgraded shares of Ingram Micro from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingram Micro in a research report on Monday, December 29th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $24.00 price objective on shares of Ingram Micro in a research report on Monday, December 15th. Finally, The Goldman Sachs Group lowered Ingram Micro from a “strong-buy” rating to a “neutral” rating and set a $24.00 target price on the stock. in a research report on Tuesday, January 13th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.44.

Ingram Micro Price Performance

INGM opened at $20.26 on Monday. The firm has a market capitalization of $4.76 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 0.74 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 moving average is $21.44 and its two-hundred day moving average is $21.17. Ingram Micro has a 1 year low of $14.25 and a 1 year high of $23.93.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. 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 during the last quarter. Comerica Bank boosted its holdings 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. Wells Fargo & Company MN increased its stake in shares of Ingram Micro by 33.2% in the fourth quarter. Wells Fargo & Company MN now owns 4,136 shares of the company’s stock worth $88,000 after acquiring an additional 1,031 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of Ingram Micro during the fourth quarter worth $94,000. Finally, Aquatic Capital Management LLC acquired a new position in Ingram Micro during the third quarter valued at $110,000.

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.