Insider Selling: Ingram Micro EVP Unloads $295,094 in Stock (IM)
Ingram Micro (NYSE:IM) EVP Lynn Jolliffe sold 10,257 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $28.77, for a total transaction of $295,093.89. Following the sale, the executive vice president now directly owns 107,782 shares of the company’s stock, valued at approximately $3,100,888. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Ingram Micro (NYSE:IM) traded up 0.17% during mid-day trading on Thursday, hitting $28.69. 448,543 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’s 50-day moving average is $28.7 and its 200-day moving average is $28.42. The company has a market cap of $4.464 billion and a P/E ratio of 17.02.
Ingram Micro (NYSE:IM) last issued its quarterly 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 previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter 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 analysts have recently weighed in on IM shares. 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 investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Ingram Micro presently has an average rating of “Buy” and a consensus target price 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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