Ingram Micro (NYSE:INGM) Hits New 1-Year Low – Here’s What Happened

Shares of Ingram Micro Holding Corp. (NYSE:INGM) reached a new 52-week low during trading on Thursday . The stock traded as low as $18.35 and last traded at $18.02, with a volume of 26296 shares trading hands. The stock had previously closed at $18.80.

Wall Street Analysts Forecast Growth

INGM has been the topic of several recent research reports. Loop Capital decreased their target price on shares of Ingram Micro from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. JPMorgan Chase & Co. decreased their price objective on Ingram Micro from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Raymond James dropped their target price on Ingram Micro from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Evercore ISI decreased their price target on Ingram Micro from $27.00 to $26.00 and set an “in-line” rating on the stock in a report on Wednesday, March 5th. Finally, Jefferies Financial Group dropped their price objective on shares of Ingram Micro from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Ingram Micro has an average rating of “Moderate Buy” and a consensus price target of $26.64.

Ingram Micro Price Performance

The firm’s fifty day moving average price is $21.78. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40.

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

Ingram Micro Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.074 per share. This represents a $0.30 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, March 11th.

Ingram Micro announced that its board has authorized a stock buyback plan on Tuesday, March 4th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Capital World Investors acquired a new position in Ingram Micro during the 4th quarter worth about $68,295,000. Victory Capital Management Inc. acquired a new stake in shares of Ingram Micro during the fourth quarter worth about $53,532,000. JPMorgan Chase & Co. purchased a new position in shares of Ingram Micro in the fourth quarter valued at approximately $37,793,000. American Century Companies Inc. acquired a new position in shares of Ingram Micro in the fourth quarter valued at approximately $36,268,000. Finally, Ameriprise Financial Inc. purchased a new stake in Ingram Micro during the 4th quarter worth approximately $30,683,000.

About Ingram Micro

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.