Ingram Micro Holding Corp. (NYSE:INGM) Receives Consensus Rating of “Moderate Buy” from Analysts

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

Several brokerages recently issued reports on INGM. Loop Capital cut their price target on Ingram Micro from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Royal Bank of Canada lifted their target price on Ingram Micro from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Jefferies Financial Group dropped their price target on shares of Ingram Micro from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Evercore ISI dropped their price target on shares of Ingram Micro from $27.00 to $26.00 and set an “in-line” rating on the stock in a research report on Wednesday, March 5th. 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 report on Wednesday, March 5th.

Institutional Trading of Ingram Micro

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

Ingram Micro Stock Performance

Shares of Ingram Micro stock opened at $17.89 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. Ingram Micro has a 1-year low of $17.75 and a 1-year high of $25.69. The firm’s 50-day simple moving average is $21.60.

Ingram Micro (NYSE:INGM) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates 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, analysts predict that Ingram Micro will post 2.71 EPS for the current fiscal year.

Ingram Micro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a $0.074 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, March 11th.

Ingram Micro announced that its board has approved a stock repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.