According to Zacks, “Ingram Micro is a leading distributor of information technology (IT) products and services worldwide. The company's focus on high-margin markets and strategic acquisitions to increase market share are encouraging. Ingram Micro has been signing distribution deals with a number of original equipment manufacturers, thereby expanding the product portfolio. Though Ingram Micro’s high debt burden is a concern, we remain fairly optimistic about its strategic relationships with network giants such as Juniper Networks Inc., Cisco and International Business Machines Corp. Additionally, the company’s focus on cloud computing products is expected to drive growth.”
Separately, Jefferies Group restated a hold rating on shares of Ingram Micro in a research note on Thursday, September 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Ingram Micro has an average rating of Hold and an average target price of $35.75.
Ingram Micro (NYSE:IM) opened at 35.75 on Tuesday. The firm’s 50-day moving average is $34.88 and its 200-day moving average is $34.87. Ingram Micro has a 12 month low of $26.44 and a 12 month high of $36.66. The company has a market capitalization of $5.35 billion, a PE ratio of 20.91 and a beta of 0.82.
Ingram Micro (NYSE:IM) last issued its earnings results on Thursday, July 28th. The company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.12. Ingram Micro had a return on equity of 10.03% and a net margin of 0.64%. The business earned $10.10 billion during the quarter, compared to analysts’ expectations of $9.67 billion. During the same period in the prior year, the business earned $0.55 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities analysts anticipate that Ingram Micro will post $2.62 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC raised its position in shares of Ingram Micro by 60.9% in the second quarter. Acrospire Investment Management LLC now owns 3,700 shares of the company’s stock valued at $129,000 after buying an additional 1,400 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Ingram Micro by 91.8% in the second quarter. Tower Research Capital LLC TRC now owns 5,323 shares of the company’s stock worth $185,000 after buying an additional 2,548 shares in the last quarter. Weaver C. Barksdale & Associates Inc. raised its position in shares of Ingram Micro by 8.4% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 5,515 shares of the company’s stock worth $192,000 after buying an additional 427 shares in the last quarter. Bbva Compass Bancshares Inc. purchased a new position in shares of Ingram Micro during the second quarter worth $200,000. Finally, Mackenzie Financial Corp raised its position in shares of Ingram Micro by 3.7% in the second quarter. Mackenzie Financial Corp now owns 7,309 shares of the company’s stock worth $254,000 after buying an additional 263 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.
About Ingram Micro
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.
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