Ingram Micro (NYSE:INGM) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Ingram Micro (NYSE:INGM) had its price target raised by investment analysts at Royal Bank of Canada from $26.00 to $28.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 19.07% from the company’s previous close.

Several other analysts have also recently commented on the company. William Blair initiated coverage on Ingram Micro in a report on Monday, November 18th. They set an “outperform” rating on the stock. Stifel Nicolaus initiated coverage on Ingram Micro in a report on Monday, November 18th. They set a “buy” rating and a $28.00 target price on the stock. BNP Paribas initiated coverage on Ingram Micro in a report on Monday, November 18th. They set a “neutral” rating and a $25.00 target price on the stock. Melius Research upgraded Ingram Micro to a “hold” rating in a report on Tuesday, November 26th. Finally, Raymond James started coverage on Ingram Micro in a report on Monday, November 18th. They issued an “outperform” rating and a $28.00 price target on the stock. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.14.

Ingram Micro Stock Performance

Ingram Micro stock traded down $0.17 during mid-day trading on Friday, hitting $23.52. 64,182 shares of the company were exchanged, compared to its average volume of 304,277. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. The business has a fifty day moving average of $21.73. Ingram Micro has a 1-year low of $18.90 and a 1-year high of $25.69.

Hedge Funds Weigh In On Ingram Micro

Several institutional investors have recently modified their holdings of INGM. Wells Fargo & Company MN acquired a new position in shares of Ingram Micro during the 4th quarter worth about $45,000. Cohen & Steers Inc. bought a new position in shares of Ingram Micro during the 4th quarter valued at about $48,000. Tower Research Capital LLC TRC bought a new position in shares of Ingram Micro during the 4th quarter valued at about $52,000. Cubist Systematic Strategies LLC bought a new position in shares of Ingram Micro during the 4th quarter valued at about $80,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Ingram Micro during the 4th quarter valued at about $118,000.

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.