Morgan Stanley Upgrades Ingram Micro (NYSE:INGM) to Overweight

Ingram Micro (NYSE:INGM) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Thursday, Marketbeat Ratings reports. The firm presently has a $27.00 target price on the stock, up from their previous target price of $25.00. Morgan Stanley’s price objective points to a potential upside of 22.87% from the stock’s current price.

INGM has been the subject of several other research reports. Stifel Nicolaus began coverage on Ingram Micro in a research note on Monday, November 18th. They issued a “buy” rating and a $28.00 price target for the company. Royal Bank of Canada assumed coverage on Ingram Micro in a report on Monday, November 18th. They issued an “outperform” rating and a $26.00 price objective on the stock. Bank of America assumed coverage on Ingram Micro in a report on Monday, November 18th. They issued a “buy” rating and a $30.00 price objective on the stock. Evercore ISI assumed coverage on Ingram Micro in a report on Monday, November 18th. They issued an “inline” rating and a $27.00 price objective on the stock. Finally, William Blair assumed coverage on Ingram Micro in a report on Monday, November 18th. They issued an “outperform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Ingram Micro presently has an average rating of “Moderate Buy” and an average price target of $28.00.

Ingram Micro Stock Performance

Shares of Ingram Micro stock opened at $21.97 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93. Ingram Micro has a twelve month low of $18.90 and a twelve month high of $25.69. The company has a 50-day simple moving average of $21.50.

Ingram Micro (NYSE:INGM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.72 earnings per share for the quarter. The business had revenue of $11.76 billion during the quarter. As a group, equities analysts expect that Ingram Micro will post 2.79 EPS for the current fiscal year.

Ingram Micro Company Profile

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.