Ingram Micro Inc. (IM) Given Consensus Rating of “Hold” by Brokerages
Ingram Micro Inc. (NYSE:IM) has been given a consensus recommendation of “Hold” by the eight analysts that are presently covering the firm. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $35.00.
A number of brokerages have recently weighed in on IM. Zacks Investment Research cut Ingram Micro from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Jefferies Group reaffirmed a “hold” rating on shares of Ingram Micro in a research note on Thursday, September 8th.
Ingram Micro (NYSE:IM) traded down 0.75% during midday trading on Tuesday, reaching $35.96. The company’s stock had a trading volume of 654,788 shares. Ingram Micro has a 1-year low of $26.44 and a 1-year high of $36.66. The firm has a market capitalization of $5.38 billion, a PE ratio of 21.03 and a beta of 0.82. The stock’s 50-day moving average price is $35.06 and its 200 day moving average price is $34.87.
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Ingram Micro (NYSE:IM) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.12. Ingram Micro had a return on equity of 10.03% and a net margin of 0.64%. The business earned $10.10 billion during the quarter, compared to analysts’ expectations of $9.67 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. Equities analysts anticipate that Ingram Micro will post $2.62 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its stake in shares of Ingram Micro by 60.9% in the second quarter. Acrospire Investment Management LLC now owns 3,700 shares of the company’s stock worth $129,000 after buying an additional 1,400 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Ingram Micro by 91.8% in the second quarter. Tower Research Capital LLC TRC now owns 5,323 shares of the company’s stock worth $185,000 after buying an additional 2,548 shares during the period. Weaver C. Barksdale & Associates Inc. increased its stake in shares of Ingram Micro by 8.4% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 5,515 shares of the company’s stock worth $192,000 after buying an additional 427 shares during the period. Bbva Compass Bancshares Inc. acquired a new stake in shares of Ingram Micro during the second quarter worth about $200,000. Finally, Mackenzie Financial Corp increased its stake in shares of Ingram Micro by 3.7% in the second quarter. Mackenzie Financial Corp now owns 7,309 shares of the company’s stock worth $254,000 after buying an additional 263 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.
Ingram Micro Company Profile
Ingram Micro Inc (Ingram Micro) is engaged in the distribution of information technology (IT) products, supply chain services and mobile device lifecycle services around the world. The Company distributes and markets technology products all over the world from the industry’s computer hardware suppliers, mobility hardware suppliers, software publishers, consumer electronics (CE), automatic identification and data capture (AIDC)/point-of-sale (POS), and physical security products.
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