The stock of Ingram Micro Inc. (NYSE:IM) hit a new 52-week high and has $49.93 target or 30.00% above today’s $38.41 share price. The 7 months bullish chart indicates low risk for the $5.75B company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $49.93 price target is reached, the company will be worth $1.73B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 323,037 shares traded hands. Ingram Micro Inc. (NYSE:IM) has risen 7.96% since April 5, 2016 and is uptrending. It has outperformed by 6.00% the S&P500.
Ingram Micro Inc. (NYSE:IM) Ratings Coverage
Out of 3 analysts covering Ingram Micro (NYSE:IM), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. $35.0 is the highest target while $30 is the lowest. The $32.67 average target is -14.94% below today’s ($38.41) stock price. Ingram Micro has been the topic of 7 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Needham maintained the stock with “Buy” rating in Thursday, October 15 report. Citigroup downgraded Ingram Micro Inc. (NYSE:IM) on Thursday, February 18 to “Neutral” rating. As per Monday, November 2, the company rating was maintained by Needham. The rating was downgraded by Needham to “Hold” on Thursday, February 18. The rating was downgraded by Raymond James to “Mkt Perform” on Friday, February 19.
According to Zacks Investment Research, “Ingram Micro, Inc. is one of the leading distributors of information technology products and services worldwide. The company markets computer hardware, networking equipment, and software products to reseller customers in numerous countries. The company also provides logistics and fulfillment services to vendor and reseller customers.”
Insitutional Activity: The institutional sentiment decreased to 0.87 in 2016 Q2. Its down 0.05, from 0.92 in 2016Q1. The ratio worsened, as 44 funds sold all Ingram Micro Inc. shares owned while 115 reduced positions. 34 funds bought stakes while 104 increased positions. They now own 123.03 million shares or 9.62% less from 136.13 million shares in 2016Q1.
Pax Management Limited holds 1% or 494,169 shares in its portfolio. Grantham Mayo Van Otterloo & Limited Co last reported 2.01M shares in the company. Raymond James & Associate holds 31,640 shares or 0% of its portfolio. Ameriprise Fincl last reported 0.01% of its portfolio in the stock. Putnam Invests Ltd Limited Liability Company last reported 96,528 shares in the company. Oakworth Cap last reported 0.01% of its portfolio in the stock. Next Fin accumulated 29 shares or 0% of the stock. The Texas-based Bbt Limited Com has invested 1.08% in Ingram Micro Inc. (NYSE:IM). The Kentucky-based Hl Financial Ltd Liability Corp has invested 0.05% in Ingram Micro Inc. (NYSE:IM). Robeco Institutional Asset Mgmt Bv holds 205,280 shares or 0.05% of its portfolio. Bnp Paribas Arbitrage holds 0.01% of its portfolio in Ingram Micro Inc. (NYSE:IM) for 85,749 shares. Moreover, Acadian Asset Mngmt Llc has 0.03% invested in Ingram Micro Inc. (NYSE:IM) for 151,376 shares. Wolverine Asset Management accumulated 0.04% or 68,536 shares. Archford Capital Strategies Lc last reported 0% of its portfolio in the stock. Envestnet Asset Mngmt accumulated 9,531 shares or 0% of the stock.
More news for Ingram Micro Inc. (NYSE:IM) were recently published by: Forbes.com, which released: “Ingram Micro Reaches Analyst Target Price” on November 01, 2016. Businesswire.com‘s article titled: “Phoenix Audio Technologies Signs U.S. Distribution Agreement with Ingram Micro” and published on November 01, 2016 is yet another important article.
IM Company Profile
Ingram Micro Inc. (Ingram Micro), incorporated on April 29, 1996, is engaged in the distribution of information technology (IT) products, supply chain services and mobile device lifecycle services around the world. The Firm distributes and markets technology products all over the world from the industry’s computer hardware suppliers, mobility hardware suppliers, networking equipment suppliers, software publishers, and other suppliers of computer peripherals, consumer electronics (CE), unified communication and collaboration, automatic identification and data capture (AIDC)/point-of-sale (POS), and physical security products. The Firm has activities in approximately 40 countries.
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