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

Ingram Micro (NYSE:INGM) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other analysts have also weighed in on INGM. Morgan Stanley lowered their target price 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. Royal Bank Of Canada restated an “outperform” rating and issued a $24.00 target price on shares of Ingram Micro in a research report on Monday, December 22nd. Wall Street Zen raised Ingram Micro from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ingram Micro in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $24.00 price target on shares of Ingram Micro in a report on Monday, December 15th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.44.

Ingram Micro Stock Down 2.4%

Shares of Ingram Micro stock opened at $20.26 on Monday. The business has a 50-day moving average price of $21.44 and a 200 day moving average price of $21.17. Ingram Micro has a fifty-two week low of $14.25 and a fifty-two week high of $23.93. The firm has a market cap of $4.76 billion, a P/E ratio of 16.47, a P/E/G ratio of 0.74 and a beta of 2.32. The company has a quick ratio of 0.95, a current ratio of 1.41 and a debt-to-equity ratio of 0.75.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Lind Value II ApS bought a new stake in Ingram Micro in the 2nd quarter valued at approximately $24,995,000. Victory Capital Management Inc. raised its holdings in shares of Ingram Micro by 27.5% in the fourth quarter. Victory Capital Management Inc. now owns 3,126,480 shares of the company’s stock valued at $66,719,000 after purchasing an additional 673,840 shares during the last quarter. River Road Asset Management LLC lifted its position in shares of Ingram Micro by 87.0% in the fourth quarter. River Road Asset Management LLC now owns 1,332,690 shares of the company’s stock worth $28,440,000 after purchasing an additional 620,147 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Ingram Micro by 26.4% during the fourth quarter. Wellington Management Group LLP now owns 2,663,257 shares of the company’s stock worth $56,834,000 after purchasing an additional 556,931 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Ingram Micro by 24.0% in the second quarter. American Century Companies Inc. now owns 2,859,753 shares of the company’s stock valued at $59,597,000 after purchasing an additional 552,620 shares in the last quarter.

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.