Ingram Micro (NYSE:INGM) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Ingram Micro (NYSE:INGM) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings upgraded Ingram Micro from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Truist Financial lifted their price target on Ingram Micro from $25.00 to $29.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Raymond James Financial reiterated an “outperform” rating and issued a $34.00 price objective on shares of Ingram Micro in a research report on Friday, May 1st. JPMorgan Chase & Co. raised Ingram Micro from an “underweight” rating to a “neutral” rating and set a $27.00 price objective for the company in a research note on Wednesday, May 27th. Finally, Evercore set a $26.00 target price on shares of Ingram Micro in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.29.

Ingram Micro Trading Up 1.7%

INGM stock opened at $29.96 on Tuesday. The company has a market capitalization of $6.94 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 0.85 and a beta of 1.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.93 and a current ratio of 1.31. Ingram Micro has a one year low of $18.09 and a one year high of $31.69. The company’s 50 day moving average price is $28.06 and its two-hundred day moving average price is $25.23.

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, beating the consensus estimate of $0.70 by $0.05. Ingram Micro had a net margin of 0.66% and a return on equity of 17.19%. The business had revenue of $13.96 billion during the quarter, compared to analyst estimates of $12.76 billion. Ingram Micro’s revenue was up 13.7% on a year-over-year basis. Ingram Micro has set its Q2 2026 guidance at 0.680-0.780 EPS. As a group, analysts predict that Ingram Micro will post 3.29 earnings per share for the current fiscal year.

Ingram Micro Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were paid a $0.084 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This is a positive change from Ingram Micro’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a yield of 1.1%. Ingram Micro’s payout ratio is currently 22.52%.

Insiders Place Their Bets

In other Ingram Micro news, VP Augusto Aragone sold 50,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $29.30, for a total transaction of $1,465,000.00. Following the completion of the transaction, the vice president owned 150,465 shares of the company’s stock, valued at approximately $4,408,624.50. This trade represents a 24.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Platinum Equity, Llc sold 5,167,069 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $29.03, for a total transaction of $150,000,013.07. Following the sale, the insider owned 177,466,319 shares in the company, valued at approximately $5,151,847,240.57. This trade represents a 2.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 5,227,069 shares of company stock valued at $151,765,013. 0.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ingram Micro

Several hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. purchased a new position in shares of Ingram Micro during the first quarter valued at approximately $3,907,000. Bank of America Corp DE grew its stake in shares of Ingram Micro by 225.1% in the 1st quarter. Bank of America Corp DE now owns 1,038,331 shares of the company’s stock worth $24,203,000 after buying an additional 718,970 shares during the last quarter. Amundi bought a new position in Ingram Micro during the 1st quarter valued at approximately $1,668,000. Readystate Asset Management LP bought a new position in Ingram Micro during the 1st quarter valued at approximately $1,244,000. Finally, Royal Bank of Canada raised its stake in Ingram Micro by 252.2% during the first quarter. Royal Bank of Canada now owns 1,472 shares of the company’s stock valued at $34,000 after buying an additional 1,054 shares during the last quarter.

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.