Brokerages Set Ingram Micro Holding Corp. (NYSE:INGM) PT at $26.64

Shares of Ingram Micro Holding Corp. (NYSE:INGM - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seventeen ratings firms that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $26.21.

INGM has been the topic of a number of research analyst reports. Evercore ISI lowered their price objective on shares of Ingram Micro from $27.00 to $26.00 and set an "in-line" rating on the stock in a research report on Wednesday, March 5th. The Goldman Sachs Group reduced their price objective on Ingram Micro from $33.00 to $29.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Bank of America dropped their target price on Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group cut their price target on Ingram Micro from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Finally, Loop Capital lowered their price target on Ingram Micro from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, March 10th.

Hedge Funds Weigh In On Ingram Micro

Several large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Ingram Micro during the fourth quarter worth approximately $17,432,000. Rhumbline Advisers acquired a new stake in Ingram Micro in the 4th quarter worth $171,000. New York State Common Retirement Fund acquired a new position in shares of Ingram Micro during the fourth quarter valued at about $304,000. Bank of New York Mellon Corp acquired a new stake in Ingram Micro during the fourth quarter worth about $207,000. Finally, Keybank National Association OH bought a new position in Ingram Micro during the fourth quarter valued at about $319,000.

Ingram Micro Trading Down 1.7 %

Ingram Micro stock traded down $0.27 during midday trading on Thursday, reaching $15.90. The stock had a trading volume of 274,951 shares, compared to its average volume of 442,133. The firm has a fifty day moving average of $19.06. Ingram Micro has a twelve month low of $14.25 and a twelve month high of $25.69. 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 (NYSE:INGM - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.01. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $13.21 billion. Research analysts forecast 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 issued a $0.074 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $0.30 annualized dividend and a yield of 1.86%.

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

Ingram Micro Company Profile

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.