Ingram Micro (NYSE:INGM) Price Target Raised to $24.00 at JPMorgan Chase & Co.

Ingram Micro (NYSE:INGM - Get Free Report) had its price objective upped by JPMorgan Chase & Co. from $21.00 to $24.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 16.03% from the stock's current price.

Other research analysts have also issued reports about the company. Morgan Stanley lowered Ingram Micro from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, June 11th. Jefferies Financial Group lowered their price target on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Wall Street Zen upgraded shares of Ingram Micro from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 12th. Finally, The Goldman Sachs Group lowered their target price on shares of Ingram Micro from $29.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $25.93.

Ingram Micro Price Performance

INGM stock traded up $0.48 during trading on Thursday, hitting $20.69. 135,063 shares of the company's stock traded hands, compared to its average volume of 378,028. Ingram Micro has a 1 year low of $14.25 and a 1 year high of $25.69. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.95 and a current ratio of 1.40. The business has a fifty day simple moving average of $20.11 and a two-hundred day simple moving average of $19.96.

Institutional Trading of Ingram Micro

Several institutional investors have recently bought and sold shares of INGM. California State Teachers Retirement System acquired a new stake in Ingram Micro in the 4th quarter worth about $26,000. CWM LLC acquired a new position in shares of Ingram Micro during the 1st quarter valued at about $26,000. Wells Fargo & Company MN purchased a new stake in shares of Ingram Micro in the 4th quarter valued at approximately $45,000. Cohen & Steers Inc. acquired a new stake in Ingram Micro during the fourth quarter worth $48,000. Finally, Tower Research Capital LLC TRC purchased a new stake in Ingram Micro in the 4th quarter valued at about $52,000.

About Ingram Micro

Ingram Micro is a leading solutions provider by revenue for the global information technology (“IT”) ecosystem helping power the world's leading technology brands. With our vast infrastructure and focus on client and endpoint solutions (formerly referred to as commercial & consumer, as described elsewhere in this prospectus), advanced solutions offerings and cloud-based solutions, we enable our business partners to scale and operate more efficiently in the markets they serve.

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