Ingram Micro Stock Rating Reaffirmed by Barclays (IM)
Ingram Micro (NYSE:IM)‘s stock had its “overweight” rating reaffirmed by equities researchers at Barclays in a research report issued on Thursday. They currently have a $33.00 target price on the stock, up from their previous target price of $31.00. Barclays’ price objective would suggest a potential upside of 14.15% from the company’s current price.
Shares of Ingram Micro (NYSE:IM) traded up 0.24% during mid-day trading on Thursday, hitting $28.98. The stock had a trading volume of 1,542,990 shares. Ingram Micro has a 52 week low of $18.80 and a 52 week high of $30.96. The stock’s 50-day moving average is $27.44 and its 200-day moving average is $26.94. The company has a market cap of $4.498 billion and a P/E ratio of 15.86.
Ingram Micro (NYSE:IM) last released its earnings data on Wednesday, April 23rd. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts expect that Ingram Micro will post $2.52 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Cross Research upgraded shares of Ingram Micro from a “hold” rating to a “buy” rating in a research note on Thursday. Separately, analysts at Zacks downgraded shares of Ingram Micro from an “outperform” rating to a “neutral” rating in a research note on Friday, May 23rd. They now have a $28.00 price target on the stock. Finally, 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. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $34.00.
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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