Ingram Micro (NYSE:INGM) Reaches New 52-Week Low – Time to Sell?

Ingram Micro Holding Corp. (NYSE:INGM)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $16.86 and last traded at $16.93, with a volume of 113635 shares traded. The stock had previously closed at $18.28.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on INGM shares. Royal Bank of Canada lifted their price objective on Ingram Micro from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, February 21st. JPMorgan Chase & Co. cut their price target 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 lowered their price objective on shares of Ingram Micro from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Bank of America cut their price objective on shares of Ingram Micro from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Finally, Morgan Stanley lowered their target price on Ingram Micro from $27.00 to $26.00 and set an “overweight” rating for the company 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.64.

Ingram Micro Price Performance

The stock’s 50 day moving average is $21.35. 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 (NYSE:INGM) last released its earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.01. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. On average, equities research analysts predict that Ingram Micro Holding Corp. will post 2.71 EPS for the current year.

Ingram Micro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors 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 annualized dividend and a yield of 1.75%.

Ingram Micro declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 4th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Ingram Micro

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System acquired a new position in shares of Ingram Micro during the 4th quarter worth approximately $26,000. Wells Fargo & Company MN acquired a new position in shares of Ingram Micro in the fourth quarter valued at about $45,000. Cohen & Steers Inc. acquired a new position in shares of Ingram Micro during the 4th quarter worth approximately $48,000. Tower Research Capital LLC TRC bought a new stake in shares of Ingram Micro in the fourth quarter valued at approximately $52,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Ingram Micro during the fourth quarter worth approximately $80,000.

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.