Analysts Set Ingram Micro Inc. (IM) Price Target at $37.50
Ingram Micro Inc. (NYSE:IM) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the firm. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $37.50.
Several brokerages recently weighed in on IM. Zacks Investment Research raised Ingram Micro from a “hold” rating to a “strong-buy” rating and set a $39.00 target price for the company in a research note on Monday, August 1st. Jefferies Group reiterated a “hold” rating on shares of Ingram Micro in a research report on Thursday, September 8th.
Several institutional investors have recently added to or reduced their stakes in the stock. Arrowgrass Capital Partners US LP raised its stake in shares of Ingram Micro by 233.5% in the third quarter. Arrowgrass Capital Partners US LP now owns 3,394,532 shares of the company’s stock worth $121,049,000 after buying an additional 2,376,669 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Ingram Micro by 682.5% in the second quarter. Marshall Wace LLP now owns 2,246,908 shares of the company’s stock worth $78,147,000 after buying an additional 1,959,747 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Ingram Micro by 62.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 2,401,895 shares of the company’s stock worth $85,652,000 after buying an additional 921,593 shares during the last quarter. GLG Partners LP raised its stake in shares of Ingram Micro by 118.1% in the second quarter. GLG Partners LP now owns 1,604,244 shares of the company’s stock worth $55,795,000 after buying an additional 868,537 shares during the last quarter. Finally, Cowen Group Inc. raised its stake in shares of Ingram Micro by 109.7% in the second quarter. Cowen Group Inc. now owns 1,471,207 shares of the company’s stock worth $51,169,000 after buying an additional 769,505 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.
Ingram Micro (NYSE:IM) opened at 38.44 on Tuesday. Ingram Micro has a 52 week low of $26.44 and a 52 week high of $38.92. The firm has a market cap of $5.75 billion, a P/E ratio of 21.21 and a beta of 0.76. The company has a 50-day moving average of $36.77 and a 200 day moving average of $35.19.
Ingram Micro (NYSE:IM) last announced its earnings results on Thursday, October 27th. The company reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.07. Ingram Micro had a return on equity of 10.00% and a net margin of 0.67%. The business earned $10.23 billion during the quarter, compared to analysts’ expectations of $10.31 billion. During the same quarter last year, the business posted $0.67 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts predict that Ingram Micro will post $2.71 earnings per share for the current year.
Ingram Micro Company Profile
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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