Ingram Micro (NYSE:INGM) Shares Gap Up – Should You Buy?

Shares of 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 traded.

Analyst Upgrades and Downgrades

INGM has been the subject of several recent analyst reports. Evercore ISI began coverage on Ingram Micro in a research note on Monday, November 18th. They issued an “inline” rating and a $27.00 price target for the company. Royal Bank of Canada began coverage on Ingram Micro in a research note on Monday, November 18th. They set an “outperform” rating and a $26.00 target price for the company. Morgan Stanley raised shares of Ingram Micro from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $25.00 to $27.00 in a research note on Thursday. Redburn Atlantic started coverage on shares of Ingram Micro in a research report on Monday, November 18th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Melius began coverage on shares of Ingram Micro in a research report on Tuesday, November 26th. They set a “hold” rating and a $26.00 price target 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 data from MarketBeat, Ingram Micro has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Ingram Micro Stock Performance

The stock has a 50-day moving average price of $21.46. 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 announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.72 EPS for the quarter. The business had revenue of $11.76 billion during the quarter. Analysts predict 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.