Analysts Set Ingram Micro Holding Corp. (NYSE:INGM) Target Price at $26.93

Shares of Ingram Micro Holding Corp. (NYSE:INGM) have been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $26.64.

INGM has been the topic of several recent analyst reports. The Goldman Sachs Group cut their price target on shares of Ingram Micro from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on shares of Ingram Micro from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Loop Capital decreased their price target on shares of Ingram Micro from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Jefferies Financial Group lowered their price objective on Ingram Micro from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Morgan Stanley dropped their price target on Ingram Micro from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th.

Ingram Micro Stock Performance

NYSE:INGM opened at $18.18 on Friday. Ingram Micro has a 1-year low of $17.80 and a 1-year high of $25.69. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average price of $21.69.

Ingram Micro (NYSE:INGM) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. The business had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $13.21 billion. Equities analysts predict that Ingram Micro will post 2.71 EPS for the current year.

Ingram Micro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were paid a $0.074 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.63%.

Ingram Micro declared that its board has initiated a share repurchase program on Tuesday, March 4th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Ingram Micro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP bought a new stake in shares of Ingram Micro during the 4th quarter valued at $26,969,000. California State Teachers Retirement System bought a new stake in Ingram Micro during the fourth quarter valued at about $26,000. Public Employees Retirement System of Ohio purchased a new stake in Ingram Micro in the fourth quarter worth about $118,000. Woodline Partners LP purchased a new position in shares of Ingram Micro during the 4th quarter valued at about $5,831,000. Finally, Zimmer Partners LP bought a new position in shares of Ingram Micro during the 4th quarter valued at approximately $291,000.

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.