Ingram Micro (NYSE:INGM) Price Target Cut to $25.00 by Analysts at Loop Capital

Ingram Micro (NYSE:INGM - Get Free Report) had its price objective lowered by stock analysts at Loop Capital from $30.00 to $25.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Loop Capital's price objective suggests a potential upside of 30.79% from the company's current price.

Several other equities research analysts have also recently commented on the company. Redburn Atlantic began coverage on Ingram Micro in a report on Monday, November 18th. They issued a "buy" rating and a $30.00 price target for the company. Morgan Stanley dropped their price objective on shares of Ingram Micro from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Evercore ISI reduced their target price on shares of Ingram Micro from $27.00 to $26.00 and set an "in-line" rating on the stock in a research note on Wednesday, March 5th. BNP Paribas began coverage on shares of Ingram Micro in a report on Monday, November 18th. They set a "neutral" rating and a $25.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on Ingram Micro in a research report on Monday, November 18th. They issued a "buy" rating and a $26.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $26.93.

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Ingram Micro Price Performance

INGM traded up $0.44 during midday trading on Monday, hitting $19.12. 85,579 shares of the company were exchanged, compared to its average volume of 419,039. The business has a 50 day moving average of $21.90. 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 1-year low of $18.38 and a 1-year high of $25.69.

Ingram Micro (NYSE:INGM - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.91 by $0.01. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $13.21 billion. Research analysts predict that Ingram Micro will post 2.71 earnings per share for the current year.

Ingram Micro declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to repurchase up to 1.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On Ingram Micro

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

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.