Morgan Stanley Raises Ingram Micro (NYSE:INGM) Price Target to $33.00

Ingram Micro (NYSE:INGM) had its price objective lifted by Morgan Stanley from $27.50 to $33.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 14.60% from the stock’s previous close.

A number of other brokerages also recently weighed in on INGM. Royal Bank Of Canada increased their price objective on shares of Ingram Micro from $24.00 to $33.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Weiss Ratings upgraded shares of Ingram Micro from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group raised their price target on Ingram Micro from $25.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Evercore set a $26.00 price objective on Ingram Micro in a report on Monday, April 20th. Finally, Wall Street Zen cut Ingram Micro from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.29.

Ingram Micro Stock Performance

NYSE INGM traded up $0.48 during trading hours on Tuesday, hitting $28.80. The company’s stock had a trading volume of 879,313 shares, compared to its average volume of 1,204,165. Ingram Micro has a 12 month low of $18.09 and a 12 month high of $31.69. The company’s 50 day simple moving average is $28.40 and its two-hundred day simple moving average is $24.32. The company has a market cap of $6.67 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 0.83 and a beta of 1.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.31 and a quick ratio of 0.93.

Ingram Micro (NYSE:INGM) last posted its earnings results on Thursday, April 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. The business had revenue of $13.96 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Ingram Micro had a net margin of 0.66% and a return on equity of 17.19%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. Ingram Micro has set its Q2 2026 guidance at 0.680-0.780 EPS. As a group, sell-side analysts expect that Ingram Micro will post 3.27 EPS for the current fiscal year.

Ingram Micro declared that its Board of Directors has approved a share buyback program on Monday, March 2nd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, VP Augusto Aragone sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the vice president owned 140,465 shares of the company’s stock, valued at $4,213,950. This trade represents a 6.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Platinum Equity, Llc sold 5,167,069 shares of Ingram Micro stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $29.03, for a total value of $150,000,013.07. Following the transaction, the insider directly owned 177,466,319 shares in the company, valued at approximately $5,151,847,240.57. The trade was a 2.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,227,069 shares of company stock valued at $151,765,013 in the last three months. 0.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ingram Micro

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new position in shares of Ingram Micro in the first quarter worth approximately $3,907,000. Bank of America Corp DE raised its position in shares of Ingram Micro by 225.1% during the 1st quarter. Bank of America Corp DE now owns 1,038,331 shares of the company’s stock valued at $24,203,000 after purchasing an additional 718,970 shares during the period. Amundi purchased a new position in shares of Ingram Micro during the 1st quarter valued at $1,668,000. Readystate Asset Management LP purchased a new position in shares of Ingram Micro during the 1st quarter valued at $1,244,000. Finally, Royal Bank of Canada boosted its holdings in Ingram Micro by 252.2% in the 1st quarter. Royal Bank of Canada now owns 1,472 shares of the company’s stock worth $34,000 after buying an additional 1,054 shares during the period.

About Ingram Micro

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro’s end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company’s offerings are organized across several core areas.