Ingram Micro (NYSE:INGM) Rating Increased to Buy 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.

Several other equities analysts also recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Ingram Micro in a research report on Monday, December 29th. Zacks Research lowered Ingram Micro from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $24.00 target price on shares of Ingram Micro in a report on Monday, December 22nd. The Goldman Sachs Group downgraded shares of Ingram Micro from a “strong-buy” rating to a “neutral” rating and set a $24.00 price target on the stock. in a report on Tuesday, January 13th. Finally, Morgan Stanley decreased their price objective on shares of Ingram Micro from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.44.

Ingram Micro Stock Up 4.0%

NYSE:INGM opened at $21.80 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.95 and a debt-to-equity ratio of 0.75. Ingram Micro has a twelve month low of $14.25 and a twelve month high of $24.33. The company has a market cap of $5.12 billion, a PE ratio of 17.72, a P/E/G ratio of 0.78 and a beta of 2.32. The company’s 50 day moving average is $21.61 and its two-hundred day moving average is $21.06.

Institutional Trading of Ingram Micro

Hedge funds have recently added to or reduced their stakes in the company. CWM LLC increased its holdings 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 in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Ingram Micro by 3.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,012,843 shares of the company’s stock valued at $21,574,000 after purchasing an additional 37,464 shares in the last quarter. Pullen Investment Management LLC raised its holdings in Ingram Micro by 36.1% in the 2nd quarter. Pullen Investment Management LLC now owns 92,508 shares of the company’s stock worth $1,928,000 after purchasing an additional 24,531 shares during the period. Lind Value II ApS purchased a new position in Ingram Micro during the second quarter worth approximately $24,995,000. Finally, Geode Capital Management LLC grew its holdings in Ingram Micro by 11.8% in the second quarter. Geode Capital Management LLC now owns 103,184 shares of the company’s stock valued at $2,150,000 after purchasing an additional 10,878 shares during the period.

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.