Ingram Micro Upgraded to Buy at Stifel Nicolaus (IM)
Ingram Micro (NYSE:IM) was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James upgraded shares of Ingram Micro from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, April 29th. They now have a $33.00 price target on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Ingram Micro in a research note on Thursday, April 24th. They now have a $31.00 price target on the stock. Finally, analysts at Needham & Company LLC raised their price target on shares of Ingram Micro from $32.00 to $35.00 in a research note on Thursday, April 24th. They now have a “buy” rating on the stock. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $34.86.
Ingram Micro (NYSE:IM) opened at 26.07 on Monday. Ingram Micro has a 1-year low of $17.74 and a 1-year high of $30.96. The stock has a 50-day moving average of $28.61 and a 200-day moving average of $25.97. The company has a market cap of $4.046 billion and a price-to-earnings ratio of 14.28. Ingram Micro also was the target of a significant increase in short interest in April. As of April 30th, there was short interest totalling 2,118,641 shares, an increase of 63.2% from the April 15th total of 1,298,269 shares. Based on an average trading volume of 2,798,039 shares, the short-interest ratio is presently 0.8 days. Approximately 1.4% of the company’s shares are short sold.
Ingram Micro (NYSE:IM) last released its earnings data on Wednesday, April 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by $0.05. The company had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.42 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts expect that Ingram Micro will post $2.51 EPS for the current fiscal year.
In other Ingram Micro news, EVP Larry Boyd sold 26,257 shares of Ingram Micro stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $27.21, for a total transaction of $714,452.97. Following the completion of the sale, the executive vice president now directly owns 72,266 shares in the company, valued at approximately $1,966,358. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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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