Ingram Micro Holding Corp. (NYSE:INGM) Receives $26.93 Consensus PT from Analysts

Shares of Ingram Micro Holding Corp. (NYSE:INGM - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seventeen brokerages that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $26.64.

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

Ingram Micro Price Performance

Shares of NYSE:INGM traded down $0.80 during trading on Friday, reaching $18.83. 352,023 shares of the company's stock traded hands, compared to its average volume of 351,122. Ingram Micro has a 12 month low of $18.38 and a 12 month high of $25.69. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93. The company's 50 day moving average is $21.81.

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Ingram Micro (NYSE:INGM - Get Free Report) last posted its earnings results 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 company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. On average, sell-side analysts anticipate that Ingram Micro will post 2.71 EPS for the current year.

Ingram Micro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were issued a dividend of $0.074 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.57%.

Ingram Micro announced that its board has initiated a stock buyback program on Tuesday, March 4th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 1.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors acquired a new stake in Ingram Micro in the 4th quarter valued at about $68,295,000. Victory Capital Management Inc. acquired a new stake in shares of Ingram Micro in the fourth quarter valued at approximately $53,532,000. JPMorgan Chase & Co. bought a new position in shares of Ingram Micro during the 4th quarter worth approximately $37,793,000. American Century Companies Inc. bought a new stake in Ingram Micro in the 4th quarter valued at $36,268,000. Finally, Ameriprise Financial Inc. acquired a new stake in Ingram Micro during the 4th quarter valued at $30,683,000.

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.