Ingram Micro Receives Consensus Recommendation of “Buy” from Analysts (NYSE:IM)
Ingram Micro (NYSE:IM) has earned a consensus rating of “Buy” from the ten brokerages that are presently covering the stock, American Banking News reports. One equities research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $35.78.
In other Ingram Micro news, EVP Larry C. Boyd sold 2,869 shares of the company’s stock 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 is available at this link.
Shares of Ingram Micro (NYSE:IM) opened at 28.32 on Tuesday. Ingram Micro has a 52-week low of $21.73 and a 52-week high of $30.96. The stock’s 50-day moving average is $28.8 and its 200-day moving average is $28.28. The company has a market cap of $4.407 billion and a price-to-earnings ratio of 16.95.
Ingram Micro (NYSE:IM) last posted its quarterly earnings results 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. On average, analysts predict that Ingram Micro will post $2.56 earnings per share for the current fiscal year.
IM has been the subject of a number of recent research reports. 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.
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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