Dallas, Texas 02/20/2014 (FINANCIALSTRENDS) – Ingram Micro Inc. (NYSE:IM) started on the stocker screener at a price of 28.46, on Monday. The stock has moved within a 52 week range of $16.96 – $30.00 with a 200-day moving average of $23.54 and a 50-day moving average of $24.67. Market capitalization of the company is $45.0 billion at a Price to Earnings ratio of 13.06.
“Ingram Micro Inc (NYSE:IM)’s fourth-quarter results showed a surprisingly positive performance. According to the latest released financial results (which were publicized on Thursday, February 13th), the company reported a quarterly earnings per share (EPS) of $0.88 thus clearly surpassing consensus estimate of $0.78. The company earned sales revenue of $11.80 billion during the quarter as against consensus estimate of $11.54 billion and a 4.0% increment from the historical comparator for the same quarter last year. Earnings per share (EPS) posted for the same quarter last year was $0.73. Analysts forecast a $2.61 EPS ahead in the running fiscal year, now.
Owing to the strong indicators and support on operational performance, Zack’s has reiterated the Outperform recommendation on this stock.
According to a Zack Consensus estimate, the top and bottom lines both surpassed Consensus Estimate and improvement in the company is IT spending will further support Ingram’s better performance. The company intends to focus on high-end market and growth through acquisition for larger market share of the target market.. The Brightpoint acquisition also played as a key growth-driver.
On the other hand, the company’s vulnerable existence in the Europe and a heavy financial debt are two main growth antagonists. However, the strategic alliances with networking concerns like Juniper and Cisco can prove their worth as a strong defense against these issues, analysts at Zacks believe.
Few other prominent securities analysts including Needham & Company and Barclay’s have raised price targets for the Ingram Micro Inc. Shs -A- from $26.00 to $32.00 and $23 to $29.Analysts at Brean Capital upgraded the shares from a hold to buy rating on Monday, February 10th while Barclays raised their rating of the stock to overweight.