Ingram Micro (NYSE:INGM) Reaches New 12-Month Low – Time to Sell?

Ingram Micro Holding Corp. (NYSE:INGM)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $18.35 and last traded at $18.02, with a volume of 26296 shares trading hands. The stock had previously closed at $18.80.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. The Goldman Sachs Group cut their price target on Ingram Micro from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Jefferies Financial Group reduced their target price on shares of Ingram Micro from $28.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday. Raymond James lowered their price target on shares of Ingram Micro from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada raised their price objective on shares of Ingram Micro from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Finally, Loop Capital lowered their target price 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. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.64.

Ingram Micro Price Performance

The firm’s fifty day simple moving average is $21.78. 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 announced its earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.01. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $13.21 billion. Analysts predict 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 was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were paid a dividend of $0.074 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, March 11th.

Ingram Micro declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 4th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Ingram Micro

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers purchased a new position in Ingram Micro during the fourth quarter worth about $171,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Ingram Micro during the 4th quarter worth approximately $17,432,000. New York State Common Retirement Fund acquired a new stake in shares of Ingram Micro in the 4th quarter valued at approximately $304,000. Burkehill Global Management LP purchased a new stake in shares of Ingram Micro in the fourth quarter valued at approximately $5,526,000. Finally, Keybank National Association OH acquired a new position in Ingram Micro during the fourth quarter worth $319,000.

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.