Ingram Micro Holding Corp. (NYSE:INGM) Receives $28.00 Consensus Target Price from Analysts

Shares of Ingram Micro Holding Corp. (NYSE:INGM) have received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $28.00.

A number of equities analysts recently commented on INGM shares. Jefferies Financial Group assumed coverage on shares of Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $28.00 target price for the company. Bank of America began coverage on Ingram Micro in a research report on Monday, November 18th. They set a “buy” rating and a $30.00 price objective for the company. The Goldman Sachs Group initiated coverage on Ingram Micro in a research report on Monday, November 18th. They set a “buy” rating and a $33.00 target price on the stock. Royal Bank of Canada initiated coverage on Ingram Micro in a report on Monday, November 18th. They issued an “outperform” rating and a $26.00 price target for the company. Finally, Morgan Stanley raised shares of Ingram Micro from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $25.00 to $27.00 in a report on Thursday, January 16th.

Ingram Micro Stock Performance

Shares of NYSE INGM opened at $24.65 on Friday. The business’s 50-day moving average is $21.48. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93. Ingram Micro has a 1-year low of $18.90 and a 1-year high of $25.69.

Ingram Micro (NYSE:INGM) last issued its earnings results on Tuesday, November 12th. The company reported $0.72 earnings per share for the quarter. The firm had revenue of $11.76 billion during the quarter. Sell-side analysts expect that Ingram Micro will post 2.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Ingram Micro

Several hedge funds have recently made changes to their positions in INGM. Rhumbline Advisers acquired a new stake in Ingram Micro during the 4th quarter worth approximately $171,000. Bank of New York Mellon Corp purchased a new stake in shares of Ingram Micro during the fourth quarter worth approximately $207,000. New York State Common Retirement Fund acquired a new stake in shares of Ingram Micro during the fourth quarter worth $304,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Ingram Micro in the 4th quarter valued at $17,432,000.

About Ingram Micro

Ingram Micro is a leading solutions provider by revenue for the global information technology (“IT”) ecosystem helping power the world’s leading technology brands. With our vast infrastructure and focus on client and endpoint solutions (formerly referred to as commercial & consumer, as described elsewhere in this prospectus), advanced solutions offerings and cloud-based solutions, we enable our business partners to scale and operate more efficiently in the markets they serve.