Jefferies Financial Group Has Lowered Expectations for Ingram Micro (NYSE:INGM) Stock Price

Ingram Micro (NYSE:INGM - Free Report) had its target price cut by Jefferies Financial Group from $28.00 to $24.00 in a research note published on Tuesday, MarketBeat reports. They currently have a buy rating on the stock.

INGM has been the subject of a number of other reports. The Goldman Sachs Group dropped their price objective on shares of Ingram Micro from $33.00 to $29.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. 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. Evercore ISI decreased 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. Raymond James cut their target price on shares of 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, Loop Capital decreased their price target on shares of Ingram Micro from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $26.64.

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Ingram Micro Price Performance

Shares of NYSE:INGM traded down $0.33 during trading on Tuesday, hitting $17.89. 554,997 shares of the stock were exchanged, compared to its average volume of 428,833. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. The company has a fifty day simple moving average of $21.60. Ingram Micro has a 12-month low of $17.75 and a 12-month high of $25.69.

Ingram Micro (NYSE:INGM - Get Free Report) last posted 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. As a group, equities analysts forecast that Ingram Micro will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.30 annualized dividend and a yield of 1.65%.

Ingram Micro declared that its board has authorized a stock repurchase plan on Tuesday, March 4th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System purchased a new stake in Ingram Micro during the fourth quarter worth approximately $26,000. Wells Fargo & Company MN acquired a new stake in Ingram Micro in the 4th quarter valued at $45,000. Cohen & Steers Inc. purchased a new position in Ingram Micro in the fourth quarter valued at about $48,000. Tower Research Capital LLC TRC purchased a new stake in shares of Ingram Micro in the fourth quarter worth about $52,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Ingram Micro in the fourth quarter valued at about $80,000.

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.