Ingram Micro (NYSE:INGM) Stock Rating Upgraded by Wall Street Zen

Ingram Micro (NYSE:INGM) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other brokerages have also recently weighed in on INGM. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $24.00 price objective on shares of Ingram Micro in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingram Micro in a report on Monday, December 29th. Morgan Stanley reduced their price target on Ingram Micro from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Zacks Research downgraded Ingram Micro from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Finally, The Goldman Sachs Group lowered Ingram Micro from a “strong-buy” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a research note on Tuesday, January 13th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $24.44.

Ingram Micro Stock Up 4.0%

NYSE:INGM opened at $21.80 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.41 and a quick ratio of 0.95. Ingram Micro has a one year low of $14.25 and a one year high of $24.33. The firm’s 50 day simple moving average is $21.61 and its 200 day simple moving average is $21.05. The company has a market cap of $5.12 billion, a PE ratio of 17.72, a P/E/G ratio of 0.75 and a beta of 2.32.

Hedge Funds Weigh In On Ingram Micro

Several institutional investors have recently added to or reduced their stakes in INGM. Twin Capital Management Inc. bought a new position in shares of Ingram Micro during the 4th quarter worth approximately $772,000. Covestor Ltd lifted its position in shares of Ingram Micro by 15.4% during the 4th quarter. Covestor Ltd now owns 5,669 shares of the company’s stock valued at $121,000 after acquiring an additional 756 shares during the period. PNC Financial Services Group Inc. boosted its stake in Ingram Micro by 54.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,335 shares of the company’s stock worth $178,000 after acquiring an additional 2,935 shares in the last quarter. Denali Advisors LLC acquired a new stake in Ingram Micro in the fourth quarter worth $217,000. Finally, Hussman Strategic Advisors Inc. bought a new stake in Ingram Micro in the fourth quarter valued at $896,000.

Ingram Micro Company Profile

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro’s end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company’s offerings are organized across several core areas.