Brokerages Set Ingram Micro Holding Corp. (NYSE:INGM) Price Target at $25.79

Ingram Micro Holding Corp. (NYSE:INGM) has been assigned an average rating of “Moderate Buy” from the seventeen research firms that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $25.79.

A number of research analysts have commented on the company. Jefferies Financial Group decreased their price objective on Ingram Micro from $28.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Morgan Stanley upped their price objective on Ingram Micro from $18.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Loop Capital decreased their price objective on Ingram Micro from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, March 10th. The Goldman Sachs Group reduced their target price on Ingram Micro from $29.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, Raymond James reduced 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.

Ingram Micro Stock Performance

INGM opened at $20.43 on Monday. Ingram Micro has a 1-year low of $14.25 and a 1-year high of $25.69. The firm has a fifty day simple moving average of $17.90. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93.

Ingram Micro (NYSE:INGM) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. As a group, research analysts expect that Ingram Micro will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be paid a $0.076 dividend. The ex-dividend date is Tuesday, May 20th. This is a positive change from Ingram Micro’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 1.49%.

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

Institutional Trading of Ingram Micro

Several large investors have recently bought and sold shares of INGM. Allspring Global Investments Holdings LLC bought a new position in Ingram Micro in the fourth quarter valued at about $17,432,000. Rhumbline Advisers bought a new position in Ingram Micro in the fourth quarter valued at about $171,000. New York State Common Retirement Fund bought a new position in Ingram Micro in the fourth quarter valued at about $304,000. Bank of New York Mellon Corp bought a new position in Ingram Micro in the fourth quarter valued at about $207,000. Finally, Keybank National Association OH bought a new position in Ingram Micro in the fourth quarter valued at about $319,000.

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.