Ingram Micro (NYSE:INGM) Issues Quarterly Earnings Results

Ingram Micro (NYSE:INGM) released its earnings results on Monday. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06, FiscalAI reports. The firm had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $14.18 billion. Ingram Micro had a net margin of 0.57% and a return on equity of 17.03%.

Ingram Micro Stock Performance

Shares of Ingram Micro stock traded up $0.63 on Monday, hitting $21.32. 1,016,823 shares of the company’s stock were exchanged, compared to its average volume of 419,623. Ingram Micro has a 1 year low of $14.25 and a 1 year high of $23.93. The company has a 50-day simple moving average of $21.35 and a 200-day simple moving average of $21.20. 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 market capitalization of $5.01 billion, a PE ratio of 17.33, a PEG ratio of 0.74 and a beta of 2.27.

Institutional Trading of Ingram Micro

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Balyasny Asset Management L.P. grew its stake in shares of Ingram Micro by 1.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 48,618 shares of the company’s stock valued at $1,038,000 after acquiring an additional 658 shares during the period. Gotham Asset Management LLC boosted its position in shares of Ingram Micro by 1.0% in the fourth quarter. Gotham Asset Management LLC now owns 77,662 shares of the company’s stock worth $1,657,000 after purchasing an additional 732 shares during the period. Rhumbline Advisers boosted its position in shares of Ingram Micro by 6.3% in the second quarter. Rhumbline Advisers now owns 13,646 shares of the company’s stock worth $284,000 after purchasing an additional 803 shares during the period. Nuveen LLC increased its stake in shares of Ingram Micro by 4.7% in the fourth quarter. Nuveen LLC now owns 18,866 shares of the company’s stock worth $403,000 after purchasing an additional 853 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Ingram Micro by 33.2% during the 4th quarter. Wells Fargo & Company MN now owns 4,136 shares of the company’s stock valued at $88,000 after purchasing an additional 1,031 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Zacks Research upgraded Ingram Micro from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Morgan Stanley reduced their price objective on shares of Ingram Micro from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $24.00 target price on shares of Ingram Micro in a research note on Monday, December 22nd. JPMorgan Chase & Co. reissued an “underweight” rating and set a $24.00 price target on shares of Ingram Micro in a research report on Monday, December 15th. Finally, Wall Street Zen upgraded shares of Ingram Micro from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $24.44.

About Ingram Micro

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.