Ingram Micro Given Average Recommendation of “Buy” by Brokerages (NYSE:IM)
Ingram Micro (NYSE:IM) has been given a consensus recommendation of “Buy” by the ten analysts that are currently covering the company, Analyst Ratings.Net reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $35.78.
A number of research firms have recently commented on IM. Analysts at Zacks reiterated a “neutral” rating on shares of Ingram Micro in a research note on Monday, July 28th. They now have a $31.00 price target on the stock. Separately, analysts at Raymond James reiterated a “strong-buy” rating on shares of Ingram Micro in a research note on Friday, July 25th. They now have a $36.00 price target on the stock, up previously from $34.00. Finally, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Ingram Micro in a research note on Friday, July 25th. They now have a $35.00 price target on the stock, up previously from $32.00.
In other Ingram Micro news, EVP Larry C. Boyd sold 2,869 shares of the stock on the open market in a transaction dated Monday, August 11th. The shares were sold at an average price of $27.82, for a total transaction of $79,815.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Ingram Micro (NYSE:IM) traded down 0.25% on Tuesday, hitting $28.37. 115,165 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 $28.95 and a 200-day moving average of $28.20. The company has a market cap of $4.414 billion and a price-to-earnings ratio of 16.90.
Ingram Micro (NYSE:IM) last released its earnings data on Thursday, July 24th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the 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 in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts predict that Ingram Micro will post $2.56 earnings per share 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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