Brokerages Set Ingram Micro Holding Corp. (NYSE:INGM) Target Price at $26.64

Shares of Ingram Micro Holding Corp. (NYSE:INGM) have received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $26.21.

INGM has been the topic of several recent research reports. Loop Capital dropped their target price on shares of Ingram Micro from $30.00 to $25.00 and set a “buy” rating on the stock in a 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 report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on Ingram Micro from $26.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Morgan Stanley dropped their target price 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. Finally, Royal Bank of Canada upped their price objective on Ingram Micro from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st.

Institutional Trading of Ingram Micro

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

Ingram Micro Stock Down 1.7 %

Shares of NYSE:INGM opened at $15.90 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40. The stock’s 50 day moving average is $19.06. Ingram Micro has a one year low of $14.25 and a one year high of $25.69.

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

Ingram Micro announced that its Board of Directors has approved a share buyback plan on Tuesday, March 4th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Ingram Micro Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Tuesday, March 11th.

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.