Ingram Micro (NYSE:INGM) Price Target Cut to $26.00 by Analysts at Raymond James

Ingram Micro (NYSE:INGM - Free Report) had its target price cut by Raymond James from $28.00 to $26.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently commented on INGM. Redburn Atlantic initiated coverage on Ingram Micro in a report on Monday, November 18th. They set a "buy" rating and a $30.00 target price for the company. Loop Capital assumed coverage on Ingram Micro in a report on Monday, November 18th. They set a "buy" rating and a $30.00 target price for the company. Jefferies Financial Group assumed coverage on Ingram Micro in a report on Monday, November 18th. They issued a "buy" rating and a $28.00 price objective for the company. Melius Research upgraded Ingram Micro to a "hold" rating in a report on Tuesday, November 26th. Finally, Northcoast Research assumed coverage on Ingram Micro in a report on Friday, November 8th. They issued a "neutral" rating for the company. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.29.

Ingram Micro Stock Performance

INGM stock traded up $0.13 during midday trading on Wednesday, hitting $19.59. The company had a trading volume of 494,395 shares, compared to its average volume of 419,111. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40. The firm has a 50 day moving average price of $21.96. Ingram Micro has a 52 week low of $18.90 and a 52 week high of $25.69.

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

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

Ingram Micro Dividend Announcement

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

Institutional Investors Weigh In On Ingram Micro

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