Ingram Micro (NYSE:INGM) Reaches New 52-Week Low – What’s Next?

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

Analysts Set New Price Targets

Several analysts have weighed in on the company. Evercore ISI assumed coverage on Ingram Micro in a report on Monday, November 18th. They issued an “inline” rating and a $27.00 price target on the stock. BNP Paribas initiated coverage on Ingram Micro in a report on Monday, November 18th. They set a “neutral” rating and a $25.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Ingram Micro in a report on Monday, November 18th. They set a “buy” rating and a $33.00 target price for the company. Morgan Stanley boosted their price objective on shares of Ingram Micro from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Bank of America assumed coverage on Ingram Micro in a research report on Monday, November 18th. They issued a “buy” rating and a $30.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.86.

Ingram Micro Stock Performance

The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93.

Ingram Micro (NYSE:INGM) last posted its earnings results on Tuesday, November 12th. The company reported $0.72 earnings per share (EPS) for the quarter. The firm had revenue of $11.76 billion for the quarter. As a group, equities research analysts anticipate that Ingram Micro Holding Corp. 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.