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

Ingram Micro (NYSE:INGM) had its price objective raised by equities researchers at Royal Bank of Canada from $26.00 to $28.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 20.22% from the company’s previous close.

Other analysts have also issued reports about the company. Northcoast Research initiated coverage on Ingram Micro in a research note on Friday, November 8th. They issued a “neutral” rating for the company. Morgan Stanley upgraded Ingram Micro from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $25.00 to $27.00 in a research note on Thursday, January 16th. Melius started coverage on Ingram Micro in a research report on Tuesday, November 26th. They issued a “hold” rating and a $26.00 price objective for the company. Bank of America started coverage on Ingram Micro in a research report on Monday, November 18th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on Ingram Micro in a research report on Wednesday, November 20th. They issued a “neutral” rating and a $28.00 price objective for the company. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.14.

Ingram Micro Stock Performance

Shares of NYSE:INGM opened at $23.29 on Friday. Ingram Micro has a twelve month low of $18.90 and a twelve month high of $25.69. 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 firm has a fifty day simple moving average of $21.77.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Ingram Micro during the 4th quarter worth approximately $17,432,000. Rhumbline Advisers acquired a new position in shares of Ingram Micro during the 4th quarter worth approximately $171,000. New York State Common Retirement Fund bought a new stake in Ingram Micro in the 4th quarter valued at $304,000. Bank of New York Mellon Corp bought a new stake in Ingram Micro in the 4th quarter valued at $207,000. Finally, Keybank National Association OH bought a new stake in Ingram Micro in the 4th quarter valued at $319,000.

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.