Ingram Micro Holding Corporation (NYSE:INGM) Receives Average Recommendation of “Hold” from Brokerages

Shares of Ingram Micro Holding Corporation (NYSE:INGM) have been given a consensus recommendation of “Hold” by the eleven research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to 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 brokerages recently weighed in on INGM. Morgan Stanley decreased their price objective on Ingram Micro from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ingram Micro in a research report on Monday, December 29th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $24.00 price objective on shares of Ingram Micro in a report on Monday, December 15th. Wall Street Zen raised shares of Ingram Micro from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $24.00 target price on shares of Ingram Micro in a research report on Monday, December 22nd.

Ingram Micro Trading Up 2.4%

NYSE INGM opened at $21.61 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.41 and a debt-to-equity ratio of 0.75. The stock’s 50-day simple moving average is $21.60 and its two-hundred day simple moving average is $21.07. Ingram Micro has a twelve month low of $14.25 and a twelve month high of $24.00. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 0.77 and a beta of 2.32.

Hedge Funds Weigh In On Ingram Micro

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC boosted its stake in shares of Ingram Micro by 20.5% during the fourth quarter. CWM LLC now owns 4,144 shares of the company’s stock valued at $88,000 after purchasing an additional 705 shares during the period. Covestor Ltd increased its stake in shares of Ingram Micro by 15.4% in the fourth quarter. Covestor Ltd now owns 5,669 shares of the company’s stock worth $121,000 after buying an additional 756 shares during the period. Rhumbline Advisers raised its holdings in Ingram Micro by 6.3% during the 2nd quarter. Rhumbline Advisers now owns 13,646 shares of the company’s stock valued at $284,000 after buying an additional 803 shares during the last quarter. Nuveen LLC grew its holdings in Ingram Micro by 4.7% in the 4th quarter. Nuveen LLC now owns 18,866 shares of the company’s stock worth $403,000 after acquiring an additional 853 shares during the last quarter. Finally, Quantbot Technologies LP grew its holdings in Ingram Micro by 8.2% in the 3rd quarter. Quantbot Technologies LP now owns 11,416 shares of the company’s stock worth $245,000 after acquiring an additional 868 shares during 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.