Insider Selling: Ingram Micro Director Unloads 1,726 Shares of Stock (IM)
Ingram Micro (NYSE:IM) Director Linda Fayne Levinson sold 1,726 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $28.85, for a total value of $49,795.10. Following the transaction, the director now directly owns 47,582 shares in the company, valued at approximately $1,372,741. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Ingram Micro (NYSE:IM) traded down 0.90% on Wednesday, hitting $28.64. 620,511 shares of the company’s stock traded hands. Ingram Micro has a 1-year low of $21.73 and a 1-year high of $30.96. The stock has a 50-day moving average of $28.81 and a 200-day moving average of $28.39. The company has a market cap of $4.456 billion and a P/E ratio of 17.17.
Ingram Micro (NYSE:IM) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters 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. Analysts expect that Ingram Micro will post $2.56 EPS for the current fiscal year.
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. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Ingram Micro presently has an average rating of “Buy” and an average price target of $35.78.
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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