TSC Ratings' Updates: Ingram Micro

The following ratings' changes were generated on October 3.

Ingram Micro(IM Quote) has been downgraded from buy to hold. Ingram Micro, Inc. and its subsidiaries distribute information technology (IT) products and supply chain solutions worldwide. The company offers various IT products, including peripherals, systems, software, networking and others. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a decline in the stock price during the past year, weak operating cash flow and poor profit margins.

IM's revenue growth trails the industry average of 20.9%. Since the same quarter one year prior, revenue has slightly increased by 7.7%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share. ...