Morgan Stanley Lowers Price Target for Ingram Micro Shares

Ingram Micro (NYSE:INGM) has seen its price target revised by analysts at Morgan Stanley. On Wednesday, Morgan Stanley downgraded their price objective from $27.00 to $26.00 while maintaining an "overweight" rating on the stock. This new price target suggests a potential upside of approximately 24.60% based on the stock's closing price before the downgrade.

Additionally, Ingram Micro has recently faced scrutiny from various research firms. On November 18th, William Blair began coverage of Ingram Micro, giving it an "outperform" rating. Stifel Nicolaus also initiated coverage the same day, issuing a "buy" rating with a target price of $28.00. Furthermore, Evercore ISI set an "inline" rating and established a $27.00 target price, while BNP Paribas assigned a "neutral" rating with a $25.00 price target. Deutsche Bank also entered coverage on this day with a "buy" rating and a $26.00 price target. Overall, five analysts hold a hold rating on the stock, while eleven have issued buy ratings, leading to a consensus rating of "Moderate Buy" with a targeted price of $28.07 according to MarketBeat.

Current Performance of Ingram Micro Stock

As of Wednesday, shares of Ingram Micro opened at $20.87. The company's stock has a 50-day moving average of $21.99, with a 52-week low of $18.90 and a high of $25.69. Financially, Ingram Micro maintains a debt-to-equity ratio of 0.93, a current ratio of 1.40, and a quick ratio of 0.96.

Ingram Micro recently disclosed their quarterly earnings on March 4th, reporting earnings per share (EPS) of $0.92, surpassing the consensus estimate of $0.91 by one cent. The revenue for the quarter was reported at $13.34 billion, which is higher than the anticipated $13.21 billion. Looking ahead, analysts project that Ingram Micro's EPS for the current fiscal year will reach 2.71.

Investment Activity Among Hedge Funds

Several hedge funds have made adjustments to their stakes in Ingram Micro. Wells Fargo & Company MN announced a new position valued at about $45,000 in the fourth quarter. Similarly, Cohen & Steers Inc. purchased a $48,000 stake, while Tower Research Capital LLC TRC acquired a new stake worth $52,000. Additionally, Cubist Systematic Strategies LLC bought in for $80,000, and the Public Employees Retirement System of Ohio added a stake valued at $118,000 during the same period.

About Ingram Micro

Ingram Micro is recognized as a leading solutions provider in the global information technology ecosystem. The company plays a crucial role in supporting some of the world's top technology brands through its expansive infrastructure and a strong commitment to client solutions, advanced solutions offerings, and cloud services, thus enabling its partners to operate more effectively in their respective markets.

Conclusion

With the recent adjustments in analyst ratings and insights from hedge fund investments, Ingram Micro appears to be a stock that is still garnering interest among investors despite the lowered price target from Morgan Stanley.

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