Ingram Micro Inc. (IM) Sees Strong Trading Volume
Ingram Micro Inc. (NYSE:IM) saw an uptick in trading volume on Wednesday . 1,920,261 shares were traded during mid-day trading, an increase of 30% from the previous session’s volume of 1,474,741 shares.The stock last traded at $35.10 and had previously closed at $34.93.
Separately, Zacks Investment Research raised shares of Ingram Micro from a “sell” rating to a “hold” rating in a research note on Monday, July 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Ingram Micro presently has a consensus rating of “Hold” and an average price target of $33.50.
The firm has a market capitalization of $5.21 billion and a P/E ratio of 31.38. The stock’s 50 day moving average is $34.97 and its 200 day moving average is $33.60.
Ingram Micro (NYSE:IM) last issued its quarterly earnings results on Friday, April 29th. The company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.18. The company had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.95 billion. Ingram Micro’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 EPS. Equities analysts expect that Ingram Micro Inc. will post $2.49 earnings per share for the current year.
Other hedge funds have recently added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. boosted its stake in Ingram Micro by 131.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 823,649 shares of the company’s stock valued at $25,022,000 after buying an additional 467,238 shares during the period. California Public Employees Retirement System boosted its stake in Ingram Micro by 6.8% in the fourth quarter. California Public Employees Retirement System now owns 510,533 shares of the company’s stock valued at $15,510,000 after buying an additional 32,500 shares during the period. Aberdeen Asset Management PLC UK boosted its stake in Ingram Micro by 6.8% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 45,395 shares of the company’s stock valued at $1,328,000 after buying an additional 2,885 shares during the period. Robeco Institutional Asset Management B.V. purchased a new stake in Ingram Micro during the fourth quarter valued at approximately $3,443,000. Finally, Monarch Partners Asset Management LLC boosted its stake in Ingram Micro by 16.5% in the fourth quarter. Monarch Partners Asset Management LLC now owns 486,236 shares of the company’s stock valued at $14,772,000 after buying an additional 68,915 shares during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.