Ingram Micro Inc. Shs -A- Rating Increased to Overweight at Barclays (IM)
Ingram Micro Inc. Shs -A- (NYSE:IM) was upgraded by equities researchers at Barclays to an “overweight” rating in a research report issued on Monday, Stock Ratings Network reports. The firm currently has a $29.00 price target on the stock, up from their previous price target of $23.00. Barclays’ target price indicates a potential upside of 23.93% from the stock’s previous close.
Ingram Micro Inc. Shs -A- (NYSE:IM) opened at 23.40 on Monday. Ingram Micro Inc. Shs -A- has a 52 week low of $16.96 and a 52 week high of $24.28. The stock’s 50-day moving average is $23.39 and its 200-day moving average is $22.49. The company has a market cap of $3.607 billion and a P/E ratio of 12.06.
Ingram Micro Inc. Shs -A- (NYSE:IM) last announced its earnings results on Thursday, October 24th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. The company had revenue of $10.20 billion for the quarter, compared to the consensus estimate of $10.52 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, analysts predict that Ingram Micro Inc. Shs -A- will post $2.27 earnings per share for the current fiscal year.
A number of other firms have also recently commented on IM. Analysts at Zacks reiterated an “outperform” rating on shares of Ingram Micro Inc. Shs -A- in a research note to investors on Wednesday, October 30th. They now have a $28.00 price target on the stock. Analysts at Needham & Company raised their price target on shares of Ingram Micro Inc. Shs -A- from $24.00 to $26.00 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $27.25.
Ingram Micro Inc (NYSE:IM) is a global information technology (IT) supply-chain management, mobile device lifecycle services and logistics solutions.
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