Analysts Set Ingram Micro Holding Corp. (NYSE:INGM) PT at $26.93

Shares of Ingram Micro Holding Corp. (NYSE:INGM) have been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $26.64.

INGM has been the topic of several analyst reports. Morgan Stanley lowered their price target on shares of Ingram Micro from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on shares of Ingram Micro from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Loop Capital dropped their target price on Ingram Micro from $30.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 10th. Raymond James reduced their price target on Ingram Micro from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Finally, Royal Bank of Canada lifted their price objective on shares of Ingram Micro from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, February 21st.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP acquired a new stake in Ingram Micro during the 4th quarter worth approximately $26,969,000. California State Teachers Retirement System acquired a new position in Ingram Micro during the fourth quarter worth about $26,000. Public Employees Retirement System of Ohio purchased a new stake in Ingram Micro in the 4th quarter valued at approximately $118,000. Woodline Partners LP purchased a new stake in shares of Ingram Micro in the fourth quarter valued at $5,831,000. Finally, Zimmer Partners LP acquired a new stake in shares of Ingram Micro during the 4th quarter worth about $291,000.

Ingram Micro Trading Down 1.8 %

INGM opened at $17.89 on Friday. The business has a fifty day moving average price of $21.60. Ingram Micro has a 12-month low of $17.75 and a 12-month high of $25.69. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93.

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 analysts’ consensus estimates of $0.91 by $0.01. The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $13.21 billion. Research analysts forecast that Ingram Micro will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Announces Dividend

The company 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. This represents a $0.30 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, March 11th.

Ingram Micro declared that its board has approved a share repurchase plan on Tuesday, March 4th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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.