Ingram Micro Rating Increased to Buy at Northcoast Research (IM)
Ingram Micro (NYSE:IM) was upgraded by stock analysts at Northcoast Research from a “neutral” rating to a “buy” rating in a report issued on Monday, TheFlyOnTheWall.com reports. The firm currently has a $36.00 price objective on the stock. Northcoast Research’s price target would indicate a potential upside of 23.12% from the stock’s previous close.
A number of other firms have also recently commented on IM. Analysts at Brean Capital raised their price target on shares of Ingram Micro from $31.00 to $40.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at Raymond James raised their price target on shares of Ingram Micro from $30.00 to $33.00 in a research note on Friday, March 28th. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Ingram Micro in a research note on Monday, February 17th. They now have a $34.00 price target on the stock. Five analysts have rated the stock with a buy rating, Ingram Micro has a consensus rating of “Buy” and an average target price of $34.00.
In other Ingram Micro news, Director Joe Wyatt unloaded 6,165 shares of Ingram Micro stock on the open market in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $29.68, for a total transaction of $182,977.20. Following the transaction, the director now directly owns 44,380 shares of the company’s stock, valued at approximately $1,317,198. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Ingram Micro (NYSE:IM) traded up 0.92% on Monday, hitting $29.51. The stock had a trading volume of 2,078,197 shares. Ingram Micro has a 52 week low of $16.96 and a 52 week high of $30.33. The stock’s 50-day moving average is $29.00 and its 200-day moving average is $25.06. The company has a market cap of $4.561 billion and a P/E ratio of 14.69.
Ingram Micro (NYSE:IM) last announced its earnings results on Thursday, February 13th. The company reported $0.88 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.78 by $0.10. The company had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that Ingram Micro will post $2.61 earnings per share for the current fiscal year.
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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