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

Shares of Ingram Micro Holding Corp. (NYSE:INGM) have earned an average rating of “Moderate Buy” from the seventeen research firms that are covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $25.71.

A number of brokerages recently commented on INGM. Raymond James dropped their price target on Ingram Micro from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Evercore ISI lowered their price objective on Ingram Micro from $27.00 to $26.00 and set an “in-line” rating for the company in a research note on Wednesday, March 5th. The Goldman Sachs Group cut their price target on shares of Ingram Micro from $29.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Morgan Stanley lowered Ingram Micro from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $23.00 to $22.00 in a research report on Wednesday. Finally, Bank of America lowered their price target on Ingram Micro from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th.

Institutional Investors Weigh In On Ingram Micro

A number of institutional investors have recently added to or reduced their stakes in INGM. Rhumbline Advisers increased its stake in Ingram Micro by 46.0% in the 1st quarter. Rhumbline Advisers now owns 12,843 shares of the company’s stock worth $228,000 after acquiring an additional 4,044 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Ingram Micro in the 1st quarter worth about $372,000. Alyeska Investment Group L.P. raised its stake in shares of Ingram Micro by 634.6% during the first quarter. Alyeska Investment Group L.P. now owns 1,436,187 shares of the company’s stock valued at $25,478,000 after acquiring an additional 1,240,675 shares in the last quarter. Quantbot Technologies LP bought a new stake in Ingram Micro during the 1st quarter valued at $443,000. Finally, Wellington Management Group LLP lifted its stake in Ingram Micro by 124.9% in the first quarter. Wellington Management Group LLP now owns 3,128,110 shares of the company’s stock worth $55,493,000 after acquiring an additional 1,737,236 shares during the period.

Ingram Micro Stock Performance

NYSE:INGM opened at $19.42 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. Ingram Micro has a fifty-two week low of $14.25 and a fifty-two week high of $25.69. The business has a 50 day moving average price of $18.37 and a 200-day moving average price of $20.15.

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

Ingram Micro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th were issued a $0.076 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.30 annualized dividend and a yield of 1.57%. This is an increase from Ingram Micro’s previous quarterly dividend of $0.07.

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.