Ingram Micro (NYSE:INGM) Reaches New 12-Month Low on Analyst Downgrade

Shares of Ingram Micro Holding Corp. (NYSE:INGM) hit a new 52-week low during mid-day trading on Monday after Loop Capital lowered their price target on the stock from $30.00 to $25.00. Loop Capital currently has a buy rating on the stock. Ingram Micro traded as low as $18.88 and last traded at $18.91, with a volume of 164585 shares trading hands. The stock had previously closed at $19.57.

A number of other brokerages also recently issued reports on INGM. Melius started coverage on Ingram Micro in a research report on Tuesday, November 26th. They set a “hold” rating and a $26.00 price target on the stock. Stifel Nicolaus started coverage on shares of Ingram Micro in a research report on Monday, November 18th. They set a “buy” rating and a $28.00 price target on the stock. Bank of America decreased their target price on shares of Ingram Micro from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Evercore ISI cut their price objective on 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, BNP Paribas assumed coverage on Ingram Micro in a research report on Monday, November 18th. They set a “neutral” rating and a $25.00 price target for the company. Six 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.com, Ingram Micro currently has an average rating of “Moderate Buy” and a consensus price target of $26.93.

Institutional Trading of Ingram Micro

Several hedge funds and other institutional investors have recently modified their holdings of INGM. Wells Fargo & Company MN acquired a new position in Ingram Micro during the fourth quarter valued at approximately $45,000. Cohen & Steers Inc. bought a new position in shares of Ingram Micro in the fourth quarter worth about $48,000. Tower Research Capital LLC TRC acquired a new stake in shares of Ingram Micro in the 4th quarter valued at $52,000. Cubist Systematic Strategies LLC acquired a new stake in shares of 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 valued at $118,000.

Ingram Micro Stock Down 3.3 %

The business’s 50 day moving average price is $21.96. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96.

Ingram Micro (NYSE:INGM) last issued its quarterly earnings results 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 business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $13.21 billion. Equities research analysts expect that Ingram Micro Holding Corp. will post 2.71 EPS for the current fiscal year.

Ingram Micro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, March 11th.

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

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.