Ingram Micro (NYSE:INGM) Reaches New 12-Month Low – Here’s What Happened

Ingram Micro Holding Corp. (NYSE:INGM) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $14.25 and last traded at $14.50, with a volume of 972039 shares. The stock had previously closed at $15.88.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Loop Capital dropped their price target on Ingram Micro from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Jefferies Financial Group lowered their price target on Ingram Micro from $28.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. Royal Bank of Canada upped their target price on shares of Ingram Micro from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Evercore ISI decreased their price target on shares of Ingram Micro from $27.00 to $26.00 and set an “in-line” rating for the company in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price objective on Ingram Micro from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. 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, Ingram Micro has an average rating of “Moderate Buy” and an average price target of $26.64.

Ingram Micro Stock Performance

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 firm’s 50 day simple moving average is $20.17.

Ingram Micro (NYSE:INGM) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 EPS 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. Equities research analysts expect 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. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.074 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.30 annualized dividend and a yield of 1.92%.

Ingram Micro declared that its board has initiated a share 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Ingram Micro

Several large investors 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 fourth quarter worth approximately $26,000. Wells Fargo & Company MN bought a new stake in shares of Ingram Micro in the 4th quarter worth approximately $45,000. Cohen & Steers Inc. bought a new stake in shares of Ingram Micro during the fourth quarter valued at approximately $48,000. Tower Research Capital LLC TRC acquired a new position in shares of Ingram Micro in the fourth quarter valued at $52,000. Finally, GAMMA Investing LLC increased its holdings in Ingram Micro by 5,873.5% in the 1st quarter. GAMMA Investing LLC now owns 4,062 shares of the company’s stock valued at $720,000 after buying an additional 3,994 shares during the period.

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.