Ingram Micro (NYSE:INGM) Shares Gap Up – Time to Buy?

Ingram Micro Holding Corp. (NYSE:INGM) gapped up before the market opened on Thursday . The stock had previously closed at $20.71, but opened at $22.31. Ingram Micro shares last traded at $22.14, with a volume of 27,938 shares.

Analyst Ratings Changes

INGM has been the topic of a number of analyst reports. Stifel Nicolaus assumed coverage on Ingram Micro in a report on Monday, November 18th. They issued a “buy” rating and a $28.00 price objective on the stock. Northcoast Research started coverage on shares of Ingram Micro in a report on Friday, November 8th. They issued a “neutral” rating for the company. BNP Paribas began coverage on Ingram Micro in a research note on Monday, November 18th. They issued a “neutral” rating and a $25.00 price objective for the company. Jefferies Financial Group assumed coverage on Ingram Micro in a research report on Monday, November 18th. They issued a “buy” rating and a $28.00 price target for the company. Finally, Morgan Stanley raised shares of Ingram Micro from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $25.00 to $27.00 in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Ingram Micro Stock Up 7.4 %

The stock’s fifty day moving average price is $21.49. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96.

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

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.