Brokerages Set Ingram Micro Holding Corporation (NYSE:INGM) Target Price at $24.44

Ingram Micro Holding Corporation (NYSE:INGM) has earned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $24.4444.

A number of research firms recently commented on INGM. Morgan Stanley lowered their price target on shares of Ingram Micro from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Wall Street Zen upgraded shares of Ingram Micro from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. The Goldman Sachs Group lowered shares of Ingram Micro from a “strong-buy” rating to a “neutral” rating and set a $24.00 target price for the company. in a report on Tuesday, January 13th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $24.00 target price on shares of Ingram Micro in a research note on Monday, December 15th. Finally, Zacks Research lowered Ingram Micro from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd.

Ingram Micro Stock Performance

Shares of INGM stock opened at $21.61 on Wednesday. The company has a market capitalization of $5.08 billion, a P/E ratio of 17.57, a PEG ratio of 0.75 and a beta of 2.32. Ingram Micro has a fifty-two week low of $14.25 and a fifty-two week high of $24.00. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.95 and a current ratio of 1.41. The stock has a 50 day moving average price of $21.60 and a two-hundred day moving average price of $21.06.

Institutional Trading of Ingram Micro

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC increased its position in Ingram Micro by 125.7% during the 2nd quarter. CWM LLC now owns 3,333 shares of the company’s stock valued at $69,000 after purchasing an additional 1,856 shares during the period. Comerica Bank boosted its stake in shares of Ingram Micro by 2,844.2% during the 3rd quarter. Comerica Bank now owns 3,798 shares of the company’s stock valued at $82,000 after purchasing an additional 3,669 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Ingram Micro by 33.2% during the fourth quarter. Wells Fargo & Company MN now owns 4,136 shares of the company’s stock valued at $88,000 after buying an additional 1,031 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of Ingram Micro during the third quarter valued at about $110,000. Finally, PNC Financial Services Group Inc. raised its stake in Ingram Micro by 855.8% in the third quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the company’s stock worth $116,000 after buying an additional 4,835 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.