Ingram Micro Holding Corporation (NYSE:INGM) Receives $24.43 Average PT from Brokerages

Ingram Micro Holding Corporation (NYSE:INGM) has been assigned a consensus recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $24.3333.

A number of equities analysts recently weighed in on INGM shares. William Blair reaffirmed an “outperform” rating on shares of Ingram Micro in a research note on Tuesday, March 3rd. Zacks Research upgraded Ingram Micro from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Wall Street Zen raised shares of Ingram Micro from a “buy” rating to a “strong-buy” rating in a research report on Saturday. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $24.00 target price on shares of Ingram Micro in a research report on Monday, December 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ingram Micro in a research report on Monday, December 29th.

Hedge Funds Weigh In On Ingram Micro

A number of institutional investors have recently added to or reduced their stakes in the company. Synergy Asset Management LLC acquired a new stake in Ingram Micro in the third quarter valued at $2,262,000. American Century Companies Inc. increased its holdings in shares of Ingram Micro by 1.9% in the third quarter. American Century Companies Inc. now owns 2,914,724 shares of the company’s stock valued at $62,637,000 after purchasing an additional 54,971 shares during the last quarter. AXQ Capital LP acquired a new position in Ingram Micro in the 2nd quarter valued at about $432,000. Crossingbridge Advisors LLC boosted its holdings in shares of Ingram Micro by 600.0% during the third quarter. Crossingbridge Advisors LLC now owns 70,000 shares of the company’s stock worth $1,504,000 after acquiring an additional 60,000 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of Ingram Micro during the second quarter worth approximately $1,099,000.

Ingram Micro Price Performance

NYSE INGM opened at $22.15 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.97 and a current ratio of 1.33. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 0.76 and a beta of 2.27. The business has a 50 day simple moving average of $21.55 and a 200 day simple moving average of $21.40. Ingram Micro has a 52-week low of $14.25 and a 52-week high of $26.38.

Ingram Micro (NYSE:INGM) last announced its quarterly earnings results on Monday, March 2nd. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. Ingram Micro had a net margin of 0.62% and a return on equity of 16.78%. The firm had revenue of $14.88 billion for the quarter, compared to analyst estimates of $14.18 billion. The company’s revenue was up 11.5% on a year-over-year basis. Analysts anticipate that Ingram Micro will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.082 per share. The ex-dividend date is Tuesday, March 10th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Ingram Micro’s previous quarterly dividend of $0.08. Ingram Micro’s dividend payout ratio (DPR) is currently 23.19%.

Ingram Micro announced that its board has approved a stock repurchase plan on Monday, March 2nd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Ingram Micro Company Profile

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro’s end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company’s offerings are organized across several core areas.