Ingram Micro (NYSE:INGM) Lowered to "Buy" Rating by 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 equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday.

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

Ingram Micro Price Performance

Shares of NYSE INGM traded down $0.11 during midday trading on Friday, hitting $20.89. 524,363 shares of the company's stock were exchanged, compared to its average volume of 354,730. Ingram Micro has a 12-month low of $14.25 and a 12-month high of $25.69. The company has a quick ratio of 0.95, a current ratio of 1.40 and a debt-to-equity ratio of 0.78. The business's fifty day moving average price is $20.24 and its two-hundred day moving average price is $20.04.

Institutional Inflows and Outflows

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

Ingram Micro Company Profile

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.