Ingram Micro (NYSE:INGM) Upgraded to Overweight at Morgan Stanley

Ingram Micro (NYSE:INGM) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage presently has a $27.00 price target on the stock, up from their prior price target of $25.00. Morgan Stanley’s price target suggests a potential upside of 22.87% from the company’s previous close.

A number of other analysts have also weighed in on the company. Raymond James initiated coverage on Ingram Micro in a research report on Monday, November 18th. They set an “outperform” rating and a $28.00 price objective on the stock. Bank of America initiated coverage on Ingram Micro in a research report on Monday, November 18th. They set a “buy” rating and a $30.00 price objective on the stock. Royal Bank of Canada initiated coverage on shares of Ingram Micro in a research note on Monday, November 18th. They set an “outperform” rating and a $26.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $26.00 target price for the company. Finally, Stifel Nicolaus initiated coverage on shares of Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $28.00 target price for the company. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Ingram Micro Price Performance

Shares of NYSE INGM opened at $21.97 on Thursday. 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 52-week low of $18.90 and a 52-week high of $25.69. The firm has a 50 day moving average price of $21.50.

Ingram Micro (NYSE:INGM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.72 earnings per share for the quarter. The company had revenue of $11.76 billion for the quarter. Sell-side analysts expect that Ingram Micro will post 2.79 EPS for the current fiscal 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.