Ingram Micro Inc. (IM) Given Consensus Rating of “Hold” by Brokerages
Ingram Micro Inc. (NYSE:IM) has received an average rating of “Hold” from the eight research firms that are covering the stock. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $35.00.
IM has been the topic of several analyst reports. Jefferies Group reissued a “hold” rating on shares of Ingram Micro in a research report on Thursday, September 8th. Zacks Investment Research downgraded Ingram Micro from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th.
Several large investors have recently modified their holdings of IM. Vanguard Group Inc. boosted its stake in shares of Ingram Micro by 3.4% in the second quarter. Vanguard Group Inc. now owns 11,162,407 shares of the company’s stock valued at $388,229,000 after buying an additional 371,047 shares in the last quarter. Donald Smith & CO. Inc. boosted its stake in shares of Ingram Micro by 1.9% in the second quarter. Donald Smith & CO. Inc. now owns 5,723,215 shares of the company’s stock valued at $199,053,000 after buying an additional 108,429 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Ingram Micro by 4.2% in the second quarter. BlackRock Fund Advisors now owns 5,283,289 shares of the company’s stock valued at $183,753,000 after buying an additional 213,416 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Ingram Micro by 1.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,524,101 shares of the company’s stock valued at $157,348,000 after buying an additional 70,724 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Ingram Micro by 2.9% in the second quarter. State Street Corp now owns 4,194,655 shares of the company’s stock valued at $145,885,000 after buying an additional 117,031 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.
Shares of Ingram Micro (NYSE:IM) traded down 0.75% during trading on Tuesday, hitting $35.96. The stock had a trading volume of 654,788 shares. The company has a market cap of $5.38 billion, a P/E ratio of 21.03 and a beta of 0.82. Ingram Micro has a 12 month low of $26.44 and a 12 month high of $36.66. The stock has a 50-day moving average price of $35.06 and a 200 day moving average price of $34.87.
Ingram Micro (NYSE:IM) last released its earnings results on Thursday, July 28th. The company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.12. The firm had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $9.67 billion. Ingram Micro had a return on equity of 10.03% and a net margin of 0.64%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. Equities analysts expect that Ingram Micro will post $2.62 EPS for the current fiscal year.
About Ingram Micro
Ingram Micro Inc (Ingram Micro) is engaged in the distribution of information technology (IT) products, supply chain services and mobile device lifecycle services around the world. The Company distributes and markets technology products all over the world from the industry’s computer hardware suppliers, mobility hardware suppliers, software publishers, consumer electronics (CE), automatic identification and data capture (AIDC)/point-of-sale (POS), and physical security products.
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