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

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

INGM has been the topic of several other research reports. Loop Capital started coverage on Ingram Micro in a research note on Monday, November 18th. They issued a “buy” rating and a $30.00 target price on the stock. Redburn Atlantic started coverage on Ingram Micro in a research note on Monday, November 18th. They issued a “buy” rating and a $30.00 target price on the stock. Jefferies Financial Group started coverage on Ingram Micro in a research note on Monday, November 18th. They issued a “buy” rating and a $28.00 target price on the stock. Melius initiated coverage on Ingram Micro in a research note on Tuesday, November 26th. They issued a “hold” rating and a $26.00 target price on the stock. Finally, Bank of America initiated coverage on Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $30.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.14.

Ingram Micro Trading Down 0.7 %

NYSE INGM traded down $0.17 during trading on Friday, hitting $23.52. The stock had a trading volume of 64,182 shares, compared to its average volume of 304,277. The company has a 50-day moving average price of $21.73. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40. Ingram Micro has a 12 month low of $18.90 and a 12 month high of $25.69.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in shares of Ingram Micro during the 4th quarter worth approximately $118,000. Woodline Partners LP acquired a new position in shares of Ingram Micro during the 4th quarter worth approximately $5,831,000. Zimmer Partners LP acquired a new position in Ingram Micro in the 4th quarter valued at $291,000. Squarepoint Ops LLC acquired a new position in Ingram Micro in the 4th quarter valued at $783,000. Finally, Sandia Investment Management LP acquired a new position in Ingram Micro in the 4th quarter valued at $388,000.

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.