Ingram Micro (NYSE:INGM) Sets New 12-Month Low – Here’s What Happened

Ingram Micro Holding Corp. (NYSE:INGM) shares reached a new 52-week low on Thursday . The company traded as low as $19.19 and last traded at $19.74, with a volume of 383795 shares. The stock had previously closed at $20.94.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on INGM. Morgan Stanley boosted their price target on shares of Ingram Micro from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Stifel Nicolaus assumed coverage on shares of Ingram Micro in a research note on Monday, November 18th. They issued a “buy” rating and a $28.00 target price on the stock. The Goldman Sachs Group began coverage on shares of Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $33.00 price target for the company. Evercore ISI started coverage on Ingram Micro in a research note on Monday, November 18th. They issued an “inline” rating and a $27.00 price objective on the stock. Finally, Royal Bank of Canada began coverage on Ingram Micro in a research report on Monday, November 18th. They set an “outperform” rating and a $26.00 target price for the company. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Ingram Micro presently has an average rating of “Moderate Buy” and an average price target of $27.86.

Ingram Micro Stock Up 0.5 %

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 (NYSE:INGM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.72 EPS for the quarter. The company had revenue of $11.76 billion for the quarter. Analysts anticipate that Ingram Micro Holding Corp. will post 2.79 EPS for the current year.

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.