Ingram Micro (NYSE:INGM) Sets New 1-Year Low After Analyst Downgrade

Ingram Micro Holding Corp. (NYSE:INGM - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday after Loop Capital lowered their price target on the stock from $30.00 to $25.00. Loop Capital currently has a buy rating on the stock. Ingram Micro traded as low as $18.88 and last traded at $18.91, with a volume of 164585 shares changing hands. The stock had previously closed at $19.57.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Ingram Micro in a research note on Monday, November 18th. They set a "buy" rating and a $26.00 price objective for the company. Jefferies Financial Group started coverage on shares of Ingram Micro in a research note on Monday, November 18th. They set a "buy" rating and a $28.00 price objective for the company. BNP Paribas began coverage on shares of Ingram Micro in a research note on Monday, November 18th. They set a "neutral" rating and a $25.00 price objective for the company. Melius began coverage on shares of Ingram Micro in a research report on Tuesday, November 26th. They set a "hold" rating and a $26.00 price target for the company. Finally, Redburn Atlantic 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 target for the company. Six 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.com, Ingram Micro currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.93.

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Institutional Investors Weigh In On Ingram Micro

Several institutional investors and hedge funds have recently bought and sold shares of INGM. Wells Fargo & Company MN acquired a new stake in Ingram Micro during the fourth quarter worth about $45,000. Cohen & Steers Inc. bought a new position in Ingram Micro in the 4th quarter worth about $48,000. Tower Research Capital LLC TRC bought a new position in Ingram Micro in the 4th quarter worth about $52,000. Cubist Systematic Strategies LLC bought a new position in Ingram Micro in the 4th quarter worth about $80,000. Finally, Public Employees Retirement System of Ohio bought a new position in Ingram Micro in the 4th quarter worth about $118,000.

Ingram Micro Stock Up 2.2 %

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 50-day moving average price of $21.90.

Ingram Micro (NYSE:INGM - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.91 by $0.01. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. On average, sell-side analysts forecast that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

Ingram Micro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be issued a $0.074 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Tuesday, March 11th.

Ingram Micro declared that its board has initiated a stock repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes 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.

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.