Ingram Micro's (INGM) Hold (C-) Rating Reaffirmed at Weiss Ratings

Ingram Micro (NYSE:INGM - Get Free Report)'s stock had its "hold (c-)" rating reiterated by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued reports about the stock. Morgan Stanley lowered shares of Ingram Micro from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, June 11th. Raymond James Financial lowered their price target on shares of Ingram Micro from $26.00 to $24.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted 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. Wall Street Zen upgraded shares of Ingram Micro from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Finally, Zacks Research upgraded shares of Ingram Micro from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.79.

Ingram Micro Stock Up 3.7%

Shares of NYSE INGM opened at $21.88 on Wednesday. The company's 50-day simple moving average is $20.21 and its 200-day simple moving average is $19.48. Ingram Micro has a 52-week low of $14.25 and a 52-week high of $25.69. The firm has a market cap of $5.14 billion and a price-to-earnings ratio of 18.86. The company has a quick ratio of 0.93, a current ratio of 1.39 and a debt-to-equity ratio of 0.75.

Ingram Micro (NYSE:INGM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Ingram Micro had a net margin of 0.53% and a return on equity of 17.33%. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates of $11.99 billion. Equities analysts predict that Ingram Micro will post 2.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Ingram Micro

Institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System acquired a new position in Ingram Micro in the 4th quarter valued at about $26,000. CWM LLC purchased a new stake in shares of Ingram Micro in the 1st quarter valued at approximately $26,000. Covestor Ltd purchased a new stake in shares of Ingram Micro in the 1st quarter valued at approximately $88,000. Public Employees Retirement System of Ohio raised its stake in shares of Ingram Micro by 16.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,369 shares of the company's stock valued at $133,000 after acquiring an additional 917 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of Ingram Micro by 563.3% in the 2nd quarter. Parallel Advisors LLC now owns 7,422 shares of the company's stock valued at $155,000 after acquiring an additional 6,303 shares during the period.

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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