Ingram Micro (NYSE:INGM) Rating Lowered to Buy at Wall Street Zen

Key Points

• Ingram Micro has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, indicating a decrease in confidence from analysts.
• JPMorgan, Goldman Sachs, and Morgan Stanley have revised their price targets on Ingram Micro stock, suggesting a consensus target of $25.93.
• The stock has experienced significant volatility, with a 12-month low of $14.25 and a high of $25.69.

Ingram Micro (NYSE:INGM - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

INGM has been the topic of several other reports. JPMorgan Chase & Co. upped their price target on shares of Ingram Micro from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. The Goldman Sachs Group dropped their price target on shares of Ingram Micro from $29.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Finally, Morgan Stanley lowered shares of Ingram Micro from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, June 11th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.93.

Ingram Micro Stock Performance

Shares of INGM stock opened at $21.41 on Friday. The company's fifty day simple moving average is $20.22 and its 200-day simple moving average is $20.02. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.40 and a quick ratio of 0.95. 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 bought and sold shares of the company. California State Teachers Retirement System bought a new stake in shares of Ingram Micro during the 4th quarter worth $26,000. CWM LLC bought a new stake in shares of Ingram Micro during the 1st quarter worth $26,000. Wells Fargo & Company MN bought a new stake in shares of Ingram Micro during the 4th quarter worth $45,000. Cohen & Steers Inc. bought a new stake in shares of Ingram Micro during the 4th quarter worth $48,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Ingram Micro during the 4th quarter worth $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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