JPMorgan Chase & Co. Upgrades Ingram Micro (NYSE:INGM) to Neutral

Ingram Micro (NYSE:INGM) was upgraded by investment analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Wednesday. The brokerage currently has a $27.00 price target on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 0.11% from the stock’s previous close.

INGM has been the subject of a number of other reports. Royal Bank Of Canada raised their price target on shares of Ingram Micro from $24.00 to $33.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Evercore set a $26.00 target price on shares of Ingram Micro in a report on Monday, April 20th. Wall Street Zen lowered shares of Ingram Micro from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research raised shares of Ingram Micro from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Ingram Micro in a report on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $28.86.

Ingram Micro Stock Performance

INGM opened at $26.97 on Wednesday. Ingram Micro has a 12-month low of $18.09 and a 12-month high of $31.38. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $6.25 billion, a PE ratio of 17.86, a P/E/G ratio of 0.78 and a beta of 2.00. The firm has a 50 day moving average of $26.27 and a two-hundred day moving average of $23.23.

Ingram Micro (NYSE:INGM) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. Ingram Micro had a net margin of 0.66% and a return on equity of 17.19%. The company had revenue of $13.96 billion during the quarter, compared to analyst estimates of $12.76 billion. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. Ingram Micro has set its Q2 2026 guidance at 0.680-0.780 EPS. On average, analysts anticipate that Ingram Micro will post 3.25 EPS for the current year.

Ingram Micro announced that its board has initiated a share repurchase plan on Monday, March 2nd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Ingram Micro

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its stake in Ingram Micro by 1.9% during the 3rd quarter. American Century Companies Inc. now owns 2,914,724 shares of the company’s stock worth $62,637,000 after purchasing an additional 54,971 shares during the last quarter. Crossingbridge Advisors LLC boosted its stake in Ingram Micro by 600.0% during the 3rd quarter. Crossingbridge Advisors LLC now owns 70,000 shares of the company’s stock worth $1,504,000 after purchasing an additional 60,000 shares during the last quarter. Invenomic Capital Management LP boosted its stake in Ingram Micro by 58.2% during the 3rd quarter. Invenomic Capital Management LP now owns 929,332 shares of the company’s stock worth $19,971,000 after purchasing an additional 341,895 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Ingram Micro during the 4th quarter worth $896,000. Finally, Comerica Bank boosted its stake in Ingram Micro by 1,566.3% during the 4th quarter. Comerica Bank now owns 63,286 shares of the company’s stock worth $1,351,000 after purchasing an additional 59,488 shares during the last quarter.

About Ingram Micro

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.