Ingram Micro (NYSE:INGM) Given New $20.00 Price Target at JPMorgan Chase & Co.

Ingram Micro (NYSE:INGM - Free Report) had its price objective cut by JPMorgan Chase & Co. from $26.00 to $20.00 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued reports about the company. Evercore ISI reduced their price objective on 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. Jefferies Financial Group decreased their price objective on Ingram Micro from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Morgan Stanley reduced their target price on shares of Ingram Micro from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Bank of America dropped their price objective on shares of Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Finally, Raymond James dropped their target price on Ingram Micro from $28.00 to $26.00 and set an "outperform" 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.21.

Ingram Micro Stock Up 1.3 %

NYSE:INGM traded up $0.21 during trading hours on Thursday, reaching $16.09. 83,830 shares of the stock were exchanged, compared to its average volume of 439,257. Ingram Micro has a twelve month low of $14.25 and a twelve 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 stock has a 50-day simple moving average of $19.06.

Ingram Micro (NYSE:INGM - Get Free Report) last released its earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate 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. Research analysts anticipate that Ingram Micro will post 2.71 EPS for the current year.

Ingram Micro announced that its board has approved a stock buyback program on Tuesday, March 4th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Ingram Micro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.074 per share. This represents a $0.30 annualized dividend and a yield of 1.84%. The ex-dividend date was Tuesday, March 11th.

Hedge Funds Weigh In On Ingram Micro

A number of hedge funds and other institutional investors have recently bought and sold shares of INGM. California State Teachers Retirement System acquired a new position in shares of Ingram Micro during the fourth quarter worth about $26,000. Wells Fargo & Company MN acquired a new position in 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 approximately $48,000. Tower Research Capital LLC TRC acquired a new stake in shares of Ingram Micro in the 4th quarter valued at approximately $52,000. Finally, GAMMA Investing LLC grew its holdings in Ingram Micro by 5,873.5% during the first quarter. GAMMA Investing LLC now owns 4,062 shares of the company's stock worth $720,000 after acquiring an additional 3,994 shares during the period.

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.