Loop Capital Cuts Ingram Micro (NYSE:INGM) Price Target to $25.00

Ingram Micro (NYSE:INGM) had its price objective reduced by Loop Capital from $30.00 to $25.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

INGM has been the subject of several other reports. Evercore ISI dropped their price objective on Ingram Micro from $27.00 to $26.00 and set an “in-line” rating for the company in a report on Wednesday, March 5th. Redburn Atlantic assumed coverage on Ingram Micro in a research report on Monday, November 18th. They set a “buy” rating and a $30.00 target price for the company. Raymond James decreased their target price on Ingram Micro from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Bank of America decreased their target price on Ingram Micro from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Finally, BNP Paribas assumed coverage on Ingram Micro in a research report on Monday, November 18th. They set a “neutral” rating and a $25.00 target price for the company. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Ingram Micro has an average rating of “Moderate Buy” and a consensus target price of $26.93.

Ingram Micro Price Performance

Shares of NYSE:INGM opened at $18.93 on Monday. Ingram Micro has a 1-year low of $18.40 and a 1-year high of $25.69. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. The stock’s 50-day moving average price is $21.93.

Ingram Micro (NYSE:INGM) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate 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. On average, equities research analysts anticipate that Ingram Micro will post 2.71 earnings per share for the current year.

Ingram Micro declared that its Board of Directors has initiated a stock buyback plan on Tuesday, March 4th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows 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 board believes its shares are undervalued.

Ingram Micro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a $0.074 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.30 annualized dividend and a dividend yield of 1.56%.

Hedge Funds Weigh In On Ingram Micro

Institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN acquired a new position in Ingram Micro during the 4th quarter worth approximately $45,000. Cohen & Steers Inc. acquired a new position in Ingram Micro during the 4th quarter worth approximately $48,000. Tower Research Capital LLC TRC acquired a new position in Ingram Micro during the 4th quarter worth approximately $52,000. Cubist Systematic Strategies LLC acquired a new position in Ingram Micro during the 4th quarter worth approximately $80,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Ingram Micro during the 4th quarter worth approximately $118,000.

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.