Why Ingram Micro (IM) Stock Is Down Today
NEW YORK (TheStreet) -- Ingram Micro
By midday, shares had tanked 13.8% to $26.10.
Over the three months to March, the technology company earned $67.9 million, or 43 cents a share. Analysts surveyed by Thomson Reuters had forecast $75.25 million, or 48 cents a share.
Revenue nudged 1.2% higher year over year to $10.38 million, falling short of expectations for $10.42 million.
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TheStreet Ratings team rates INGRAM MICRO INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate INGRAM MICRO INC (IM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, attractive valuation levels, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
- You can view the full analysis from the report here: IM Ratings Report