Ingram Micro Holding Corp. (NYSE:INGM) Receives $26.93 Average PT from Brokerages

Shares of Ingram Micro Holding Corp. (NYSE:INGM) have earned an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $26.64.

INGM has been the topic of several research analyst reports. Melius assumed coverage on Ingram Micro in a research report on Tuesday, November 26th. They issued a “hold” rating and a $26.00 price objective on the stock. Loop Capital cut their price target on shares of Ingram Micro from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Bank of America decreased their price objective on shares of Ingram Micro from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on shares of Ingram Micro from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group decreased their price target on shares of Ingram Micro from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday.

Ingram Micro Trading Down 1.5 %

INGM stock opened at $19.64 on Friday. Ingram Micro has a twelve month low of $18.38 and a twelve month high of $25.69. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93. The company’s fifty day moving average price is $21.81.

Ingram Micro (NYSE:INGM) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.01. The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $13.21 billion. Analysts anticipate that Ingram Micro will post 2.71 EPS for the current year.

Ingram Micro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were given a dividend of $0.074 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.30 dividend on an annualized basis and a yield of 1.51%.

Ingram Micro declared that its Board of Directors has initiated a stock buyback plan on Tuesday, March 4th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Ingram Micro

Institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System acquired a new stake in Ingram Micro in the 4th quarter worth approximately $26,000. Wells Fargo & Company MN acquired a new stake in shares of Ingram Micro during the fourth quarter worth $45,000. Cohen & Steers Inc. acquired a new position in shares of Ingram Micro in the 4th quarter valued at $48,000. Tower Research Capital LLC TRC purchased a new position in Ingram Micro in the 4th quarter worth $52,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Ingram Micro during the 4th 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.