Ingram Micro (NYSE:INGM) Sets New 52-Week Low - Time to Sell?

Ingram Micro Holding Corp. (NYSE:INGM - Get Free Report)'s share price reached a new 52-week low on Thursday . The company traded as low as $18.35 and last traded at $18.02, with a volume of 26296 shares trading hands. The stock had previously closed at $18.80.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. The Goldman Sachs Group lowered 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. Jefferies Financial Group reduced their price objective on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. 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 report on Wednesday, March 5th. Royal Bank of Canada upped their price objective on shares of Ingram Micro from $26.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. Finally, Morgan Stanley dropped their price objective on Ingram Micro from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $26.64.

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Ingram Micro Price Performance

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's 50 day simple moving average is $21.60.

Ingram Micro (NYSE:INGM - Get Free Report) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.01. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $13.21 billion. Equities research analysts anticipate that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were issued a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Tuesday, March 11th.

Ingram Micro declared that its board has authorized a share buyback program on Tuesday, March 4th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of Ingram Micro

Several hedge funds and other institutional investors have recently made changes to their positions in INGM. Wellington Management Group LLP purchased a new position in Ingram Micro in the fourth quarter valued at about $26,969,000. California State Teachers Retirement System acquired a new stake in shares of Ingram Micro in the 4th quarter worth approximately $26,000. Public Employees Retirement System of Ohio purchased a new position in Ingram Micro in the 4th quarter valued at approximately $118,000. Woodline Partners LP acquired a new position in Ingram Micro during the fourth quarter worth $5,831,000. Finally, Zimmer Partners LP purchased a new stake in Ingram Micro during the fourth quarter worth $291,000.

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.