Heavy Early Morning Activity On Ingram Micro (IM)

Trade-Ideas LLC identified Ingram Micro ( IM) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Ingram Micro as such a stock due to the following factors:

  • IM has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $41.0 million.
  • IM traded 167,846 shares today in the pre-market hours as of 9:04 AM, representing 14% of its average daily volume.

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More details on IM:

Ingram Micro Inc. distributes information technology (IT) products; and provides supply chain and mobile device lifecycle services worldwide. The stock currently has a dividend yield of 1.1%. IM has a PE ratio of 31. Currently there is 1 analyst that rates Ingram Micro a buy, 1 analyst rates it a sell, and 3 rate it a hold.

The average volume for Ingram Micro has been 1.3 million shares per day over the past 30 days. Ingram Micro has a market cap of $5.2 billion and is part of the services sector and wholesale industry. The stock has a beta of 0.90 and a short float of 1.6% with 1.30 days to cover. Shares are up 15.5% year-to-date as of the close of trading on Wednesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Ingram Micro as a buy. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:
  • Net operating cash flow has significantly increased by 365.60% to $274.57 million when compared to the same quarter last year. In addition, INGRAM MICRO INC has also vastly surpassed the industry average cash flow growth rate of -13.60%.
  • Compared to its closing price of one year ago, IM's share price has jumped by 40.94%, exceeding the performance of the broader market during that same time frame. Looking ahead, the stock's sharp rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that other strengths this company displays justify these higher price levels.
  • The current debt-to-equity ratio, 0.30, is low and is below the industry average, implying that there has been successful management of debt levels. Although the company had a strong debt-to-equity ratio, its quick ratio of 0.92 is somewhat weak and could be cause for future problems.
  • INGRAM MICRO INC has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has suffered a declining pattern of earnings per share over the past two years. However, we anticipate this trend to reverse over the coming year. During the past fiscal year, INGRAM MICRO INC reported lower earnings of $1.40 versus $1.67 in the prior year. This year, the market expects an improvement in earnings ($2.48 versus $1.40).
  • IM, with its decline in revenue, underperformed when compared the industry average of 1.5%. Since the same quarter one year prior, revenues fell by 12.3%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.

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