Ingram Micro Given Buy Rating at Stifel Nicolaus (IM)
Ingram Micro (NYSE:IM)‘s stock had its “buy” rating reaffirmed by equities researchers at Stifel Nicolaus in a research report issued on Friday. They currently have a $35.00 price objective on the stock, up from their previous price objective of $32.00. Stifel Nicolaus’ price target suggests a potential upside of 17.10% from the stock’s previous close.
Ingram Micro (NYSE:IM) traded down 1.32% on Friday, hitting $29.89. 1,642,180 shares of the company’s stock traded hands. Ingram Micro has a one year low of $21.73 and a one year high of $30.96. The stock has a 50-day moving average of $28.92 and a 200-day moving average of $27.78. The company has a market cap of $4.639 billion and a P/E ratio of 16.62.
Ingram Micro (NYSE:IM) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.54 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.03. The company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the company posted $0.55 earnings per share. Ingram Micro’s revenue was up 5.8% compared to the same quarter last year. Analysts expect that Ingram Micro will post $2.53 EPS for the current fiscal year.
IM has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Ingram Micro in a research note on Friday. They now have a $36.00 price target on the stock, up previously from $35.00. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Ingram Micro in a research note on Friday. They now have a $36.00 price target on the stock, up previously from $33.00. Finally, analysts at Bank of America reiterated a “buy” rating on shares of Ingram Micro in a research note on Friday. They now have a $37.00 price target on the stock, up previously from $36.00. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $35.44.
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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