Ingram Micro (NYSE:INGM) Hits New 1-Year Low - Time to Sell?

Ingram Micro Holding Corp. (NYSE:INGM - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.86 and last traded at $16.93, with a volume of 113635 shares. The stock had previously closed at $18.28.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on INGM shares. Jefferies Financial Group cut 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. cut their price target on Ingram Micro from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, March 5th. Loop Capital decreased their price objective on Ingram Micro from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Raymond James cut 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. Finally, Evercore ISI decreased 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. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $26.64.

Ingram Micro Stock Performance

The stock has a 50-day moving average of $20.93. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93.

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Ingram Micro (NYSE:INGM - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.01. The firm had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $13.21 billion. As a group, equities analysts expect that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

Ingram Micro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.074 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Tuesday, March 11th.

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

Institutional Investors Weigh In On Ingram Micro

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