Ingram Micro (NYSE:INGM) Upgraded by Zacks Research to Strong-Buy Rating

Ingram Micro (NYSE:INGM) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Truist Financial raised their price target on shares of Ingram Micro from $25.00 to $29.00 and gave the company a “hold” rating in a report on Tuesday, May 5th. Wall Street Zen lowered shares of Ingram Micro from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Evercore set a $26.00 price objective on shares of Ingram Micro in a research report on Monday, April 20th. JPMorgan Chase & Co. upgraded Ingram Micro from an “underweight” rating to a “neutral” rating and set a $27.00 target price for the company in a research note on Wednesday, May 27th. Finally, The Goldman Sachs Group lifted their target price on Ingram Micro from $25.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.29.

Ingram Micro Stock Up 1.7%

NYSE INGM opened at $29.96 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.31 and a debt-to-equity ratio of 0.61. Ingram Micro has a fifty-two week low of $18.09 and a fifty-two week high of $31.69. The business has a 50 day moving average price of $28.06 and a two-hundred day moving average price of $25.23. The stock has a market cap of $6.94 billion, a PE ratio of 19.84, a P/E/G ratio of 0.85 and a beta of 1.78.

Ingram Micro (NYSE:INGM) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. Ingram Micro had a net margin of 0.66% and a return on equity of 17.19%. The company had revenue of $13.96 billion for the quarter, compared to analyst estimates of $12.76 billion. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. Ingram Micro has set its Q2 2026 guidance at 0.680-0.780 EPS. As a group, sell-side analysts predict that Ingram Micro will post 3.29 EPS for the current fiscal year.

Insider Buying and Selling at Ingram Micro

In other Ingram Micro news, major shareholder Platinum Equity, Llc sold 5,167,069 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $29.03, for a total transaction of $150,000,013.07. Following the completion of the transaction, the insider directly owned 177,466,319 shares of the company’s stock, valued at $5,151,847,240.57. This trade represents a 2.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Augusto Aragone sold 10,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the vice president directly owned 140,465 shares of the company’s stock, valued at $4,213,950. The trade was a 6.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,227,069 shares of company stock worth $151,765,013 over the last ninety days. 0.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ingram Micro

Several large investors have recently modified their holdings of the stock. Hussman Strategic Advisors Inc. acquired a new stake in shares of Ingram Micro during the fourth quarter worth $896,000. Comerica Bank boosted its holdings in shares of Ingram Micro by 1,566.3% in the 4th quarter. Comerica Bank now owns 63,286 shares of the company’s stock valued at $1,351,000 after buying an additional 59,488 shares during the period. Watershed Asset Management L.L.C. bought a new stake in shares of Ingram Micro during the 1st quarter valued at about $470,000. Lind Value II ApS grew its position in shares of Ingram Micro by 10.1% during the 4th quarter. Lind Value II ApS now owns 2,419,546 shares of the company’s stock valued at $51,633,000 after buying an additional 220,979 shares during the last quarter. Finally, Twin Capital Management Inc. acquired a new stake in Ingram Micro during the fourth quarter worth about $772,000.

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.