Ingram Micro Receives Average Rating of “Buy” from Analysts (NYSE:IM)
Shares of Ingram Micro (NYSE:IM) have earned an average rating of “Buy” from the nine ratings firms that are currently covering the company, American Banking and Market News reports. One research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $34.13.
Shares of Ingram Micro (NYSE:IM) opened at 29.02 on Tuesday. Ingram Micro has a one year low of $20.02 and a one year high of $30.96. The stock’s 50-day moving average is $28.43 and its 200-day moving average is $27.43. The company has a market cap of $4.504 billion and a price-to-earnings ratio of 15.94.
Ingram Micro (NYSE:IM) last posted its quarterly earnings results 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. On average, analysts predict that Ingram Micro will post $2.52 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Raymond James reiterated a “strong-buy” rating on shares of Ingram Micro in a research note on Thursday, June 26th. They now have a $34.00 price target on the stock, up previously from $33.00. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Ingram Micro in a research note on Thursday, June 26th. They now have a $33.00 price target on the stock, up previously from $31.00. Finally, analysts at Cross Research upgraded shares of Ingram Micro from a “hold” rating to a “buy” rating in a research note on Thursday, June 26th.
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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