Ingram Micro (NYSE:INGM) to Buyback $75.00 million in Shares

Ingram Micro (NYSE:INGM - Get Free Report) announced that its board has approved a stock buyback plan on Tuesday, March 4th, RTT News reports. The company plans to repurchase $75.00 million in shares. This repurchase authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently issued reports on INGM. Deutsche Bank Aktiengesellschaft assumed coverage on Ingram Micro in a report on Monday, November 18th. They issued a "buy" rating and a $26.00 price target on the stock. Redburn Atlantic started coverage on shares of Ingram Micro in a research note on Monday, November 18th. They issued a "buy" rating and a $30.00 target price on the stock. Jefferies Financial Group began coverage on shares of Ingram Micro in a report on Monday, November 18th. They issued a "buy" rating and a $28.00 price objective on the stock. Loop Capital assumed coverage on shares of Ingram Micro in a report on Monday, November 18th. They set a "buy" rating and a $30.00 target price for the company. Finally, Morgan Stanley cut their price target on Ingram Micro from $27.00 to $26.00 and set an "overweight" rating on the stock in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $27.29.

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Ingram Micro Trading Up 0.7 %

Shares of NYSE INGM traded up $0.13 during mid-day trading on Friday, reaching $19.59. 494,395 shares of the company's stock were exchanged, compared to its average volume of 419,111. Ingram Micro has a twelve month low of $18.90 and a twelve month high of $25.69. 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 firm's fifty day moving average is $21.96.

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, topping the consensus estimate of $0.91 by $0.01. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $13.21 billion. Sell-side analysts anticipate that Ingram Micro will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid a $0.074 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.30 annualized dividend and a dividend yield of 1.51%.

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.