Ingram Micro Holding Corp. (NYSE:INGM) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Ingram Micro Holding Corp. (NYSE:INGM) have earned an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $26.93.

A number of analysts have recently issued reports on INGM shares. JPMorgan Chase & Co. lowered their price objective on shares of Ingram Micro from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Bank of America lowered their target price on shares of Ingram Micro from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Morgan Stanley lowered their target price on shares of Ingram Micro from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Raymond James lowered their target price on shares of Ingram Micro from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Finally, Royal Bank of Canada boosted their target price on shares of Ingram Micro from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, February 21st.

Ingram Micro Trading Down 0.3 %

NYSE INGM opened at $19.37 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40. Ingram Micro has a 12-month low of $18.38 and a 12-month high of $25.69. The firm has a 50 day simple moving average of $21.83.

Ingram Micro (NYSE:INGM) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $13.21 billion. As a group, research analysts predict that Ingram Micro will post 2.71 EPS for the current fiscal year.

Ingram Micro declared that its board has approved a stock buyback plan on Tuesday, March 4th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Ingram Micro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a $0.074 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.30 annualized dividend and a dividend yield of 1.53%.

Hedge Funds Weigh In On Ingram Micro

Institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System bought a new stake in shares of Ingram Micro in the fourth quarter valued at about $26,000. Wells Fargo & Company MN bought a new stake in shares of Ingram Micro in the fourth quarter valued at about $45,000. Cohen & Steers Inc. bought a new stake in shares of Ingram Micro in the fourth quarter valued at about $48,000. Tower Research Capital LLC TRC bought a new stake in shares of Ingram Micro in the fourth quarter valued at about $52,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Ingram Micro in the fourth quarter valued at about $80,000.

About Ingram Micro

Ingram Micro is a leading solutions provider by revenue for the global information technology (“IT”) ecosystem helping power the world’s leading technology brands. With our vast infrastructure and focus on client and endpoint solutions (formerly referred to as commercial & consumer, as described elsewhere in this prospectus), advanced solutions offerings and cloud-based solutions, we enable our business partners to scale and operate more efficiently in the markets they serve.