Ingram Micro Holding Corporation (NYSE:INGM) Receives $24.44 Average Target Price from Analysts

Ingram Micro Holding Corporation (NYSE:INGM) has earned an average rating of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $24.4444.

A number of analysts have recently weighed in on INGM shares. Wall Street Zen raised shares of Ingram Micro from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $24.00 target price on shares of Ingram Micro in a report on Monday, December 15th. The Goldman Sachs Group downgraded Ingram Micro from a “strong-buy” rating to a “neutral” rating and set a $24.00 target price for the company. in a research report on Tuesday, January 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $24.00 price target on shares of Ingram Micro in a research report on Monday, December 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ingram Micro in a research note on Monday, December 29th.

Ingram Micro Stock Performance

INGM stock opened at $21.43 on Wednesday. The company has a 50-day simple moving average of $21.57 and a 200 day simple moving average of $21.10. The company has a market capitalization of $5.04 billion, a P/E ratio of 17.42, a PEG ratio of 0.77 and a beta of 2.32. The company has a quick ratio of 0.95, a current ratio of 1.41 and a debt-to-equity ratio of 0.75. Ingram Micro has a fifty-two week low of $14.25 and a fifty-two week high of $24.00.

Hedge Funds Weigh In On Ingram Micro

Large investors have recently made changes to their positions in the business. Synergy Asset Management LLC acquired a new stake in shares of Ingram Micro during the third quarter worth $2,262,000. Pullen Investment Management LLC boosted its position in shares of Ingram Micro by 36.1% in the 2nd quarter. Pullen Investment Management LLC now owns 92,508 shares of the company’s stock valued at $1,928,000 after purchasing an additional 24,531 shares during the period. AXQ Capital LP purchased a new position in Ingram Micro in the 2nd quarter worth about $432,000. Lind Value II ApS acquired a new stake in Ingram Micro during the 2nd quarter worth about $24,995,000. Finally, American Century Companies Inc. lifted its stake in Ingram Micro by 24.0% during the second quarter. American Century Companies Inc. now owns 2,859,753 shares of the company’s stock valued at $59,597,000 after buying an additional 552,620 shares in the last quarter.

Ingram Micro Company Profile

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro’s end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company’s offerings are organized across several core areas.