Ingram Micro Short Interest Up 63.2% in April (IM)
Ingram Micro (NYSE:IM) was the recipient of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 2,118,641 shares, a growth of 63.2% from the April 15th total of 1,298,269 shares, Stock Ratings News reports. Based on an average trading volume of 2,798,039 shares, the short-interest ratio is presently 0.8 days. Currently, 1.4% of the shares of the company are sold short.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Ingram Micro from an “outperform” rating to a “neutral” rating in a research note on Friday. They now have a $28.00 price target on the stock. Separately, analysts at Stifel Nicolaus upgraded shares of Ingram Micro from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. They now have a $32.00 price target on the stock. Finally, 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. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $33.75.
Ingram Micro (NYSE:IM) opened at 27.13 on Monday. Ingram Micro has a 52 week low of $18.00 and a 52 week high of $30.96. The stock’s 50-day moving average is $27.90 and its 200-day moving average is $26.18. The company has a market cap of $4.210 billion and a price-to-earnings ratio of 14.66.
Ingram Micro (NYSE:IM) last released its earnings data on Wednesday, April 23rd. The company reported $0.43 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.41 earnings per share. Ingram Micro’s revenue was up 1.2% compared to the same quarter last year. Analysts expect that Ingram Micro will post $2.51 EPS 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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