Ingram Micro (NYSE:INGM) Sets New 52-Week Low After Analyst Downgrade

Ingram Micro Holding Corp. (NYSE:INGM)’s share price hit a new 52-week low during trading on Monday after Loop Capital lowered their price target on the stock from $30.00 to $25.00. Loop Capital currently has a buy rating on the stock. Ingram Micro traded as low as $18.88 and last traded at $18.91, with a volume of 164585 shares changing hands. The stock had previously closed at $19.57.

Several other equities research analysts have also issued reports on INGM. Evercore ISI decreased their price target on shares of 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. Melius Research raised shares of Ingram Micro to a “hold” rating in a report on Tuesday, November 26th. The Goldman Sachs Group reduced their target price on shares of Ingram Micro from $33.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft started coverage on Ingram Micro in a report on Monday, November 18th. They issued a “buy” rating and a $26.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price target on shares of Ingram Micro from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.93.

Institutional Trading of Ingram Micro

Large investors have recently bought and sold shares of the business. Capital World Investors acquired a new stake in Ingram Micro during the fourth quarter worth $68,295,000. Victory Capital Management Inc. purchased a new stake in Ingram Micro during the 4th quarter worth about $53,532,000. JPMorgan Chase & Co. acquired a new stake in Ingram Micro in the fourth quarter valued at approximately $37,793,000. American Century Companies Inc. purchased a new stake in shares of Ingram Micro during the 4th quarter worth $36,268,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of Ingram Micro in the 4th quarter valued at about $30,683,000.

Ingram Micro Trading Down 3.3 %

The firm has a 50-day moving average of $21.96. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40.

Ingram Micro (NYSE:INGM) last released its earnings results on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.91 by $0.01. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $13.21 billion. As a group, research analysts expect that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a dividend of $0.074 per share. This represents a $0.30 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, March 11th.

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

Ingram Micro Company Profile

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.