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 investment analysts at JPMorgan Chase & Co. from $21.00 to $24.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 14.86% from the stock's current price.

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

Ingram Micro Stock Performance

Shares of NYSE INGM traded up $0.21 during trading on Thursday, hitting $20.90. The company had a trading volume of 114,186 shares, compared to its average volume of 411,166. The stock has a 50 day simple moving average of $20.15 and a 200 day simple moving average of $19.98. The company has a quick ratio of 0.95, a current ratio of 1.40 and a debt-to-equity ratio of 0.78. Ingram Micro has a 12 month low of $14.25 and a 12 month high of $25.69.

Hedge Funds Weigh In On Ingram Micro

A number of hedge funds have recently modified their holdings of INGM. Capital World Investors bought a new position in shares of Ingram Micro in the fourth quarter worth approximately $68,295,000. JPMorgan Chase & Co. purchased a new position in shares of Ingram Micro during the 4th quarter worth $37,793,000. American Century Companies Inc. purchased a new position in shares of Ingram Micro during the 4th quarter worth $36,268,000. Wellington Management Group LLP boosted its stake in shares of Ingram Micro by 124.9% during the 1st quarter. Wellington Management Group LLP now owns 3,128,110 shares of the company's stock worth $55,493,000 after acquiring an additional 1,737,236 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in shares of Ingram Micro during the 4th quarter worth $30,683,000.

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.