Ingram Micro (NYSE:INGM) Given New $26.00 Price Target at Morgan Stanley

Ingram Micro (NYSE:INGM - Free Report) had its target price reduced by Morgan Stanley from $27.00 to $26.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other research analysts have also issued reports about the stock. Redburn Atlantic initiated coverage on shares of Ingram Micro in a report on Monday, November 18th. They issued a "buy" rating and a $30.00 price objective for the company. Evercore ISI began coverage on shares of Ingram Micro in a research note on Monday, November 18th. They issued an "inline" rating and a $27.00 price target for the company. Melius began coverage on shares of Ingram Micro in a research note on Tuesday, November 26th. They issued a "hold" rating and a $26.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Ingram Micro in a research note on Monday, November 18th. They issued a "buy" rating and a $26.00 price target for the company. Finally, Loop Capital began coverage on shares of Ingram Micro in a research report on Monday, November 18th. They set a "buy" rating and a $30.00 price objective on the stock. Six equities research 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 an average rating of "Moderate Buy" and an average price target of $27.29.

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Ingram Micro Price Performance

Shares of INGM stock traded up $0.13 during trading hours on Wednesday, reaching $19.59. The stock had a trading volume of 494,395 shares, compared to its average volume of 419,111. Ingram Micro has a 12 month low of $18.90 and a 12 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 stock has a fifty day simple moving average of $21.96.

Ingram Micro (NYSE:INGM - Get Free Report) last announced 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 business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. As a group, sell-side analysts predict that Ingram Micro will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Tuesday, March 11th.

Ingram Micro announced that its board has authorized a stock repurchase plan on Tuesday, March 4th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Ingram Micro

A number of large investors have recently added to or reduced their stakes in INGM. Wells Fargo & Company MN acquired a new position in shares of Ingram Micro during the 4th quarter worth approximately $45,000. Cohen & Steers Inc. purchased a new position in shares of Ingram Micro during the 4th quarter worth $48,000. Tower Research Capital LLC TRC purchased a new position in shares of Ingram Micro during the 4th quarter worth $52,000. Cubist Systematic Strategies LLC purchased a new position in shares of Ingram Micro during the 4th quarter worth $80,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Ingram Micro during the 4th quarter valued at about $118,000.

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.