Ingram Micro (NYSE:INGM) Upgraded to "Strong-Buy" at Wall Street Zen

Ingram Micro (NYSE:INGM - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday.

INGM has been the topic of several other reports. The Goldman Sachs Group decreased their target price on shares of Ingram Micro from $29.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Jefferies Financial Group dropped their price target on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, March 25th. Morgan Stanley cut shares of Ingram Micro from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $23.00 to $22.00 in a research note on Wednesday, June 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Ingram Micro from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Ingram Micro currently has an average rating of "Moderate Buy" and a consensus price target of $25.71.

Ingram Micro Stock Down 1.8%

Shares of INGM stock traded down $0.37 on Friday, hitting $20.17. The stock had a trading volume of 114,099 shares, compared to its average volume of 412,715. Ingram Micro has a 12-month low of $14.25 and a 12-month high of $25.69. The business has a 50 day moving average of $20.05 and a 200 day moving average of $19.96. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.95 and a current ratio of 1.40.

Hedge Funds Weigh In On Ingram Micro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC bought a new position in shares of Ingram Micro in the fourth quarter valued at about $52,000. JPMorgan Chase & Co. acquired a new position in shares of Ingram Micro during the 4th quarter worth about $37,793,000. State of Alaska Department of Revenue acquired a new position in shares of Ingram Micro during the 1st quarter worth about $851,000. Barclays PLC acquired a new position in shares of Ingram Micro during the 4th quarter worth about $1,092,000. Finally, Wells Fargo & Company MN acquired a new position in shares of Ingram Micro during the 4th quarter worth about $45,000.

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.