Ingram Micro Holding Corp. (NYSE:INGM) Given Average Rating of “Moderate Buy” by Analysts

Ingram Micro Holding Corp. (NYSE:INGM) has earned a consensus rating of “Moderate Buy” from the seventeen research firms that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $25.79.

A number of analysts recently weighed in on INGM shares. Bank of America dropped their price objective 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. Raymond James lowered their price target on Ingram Micro from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. upped their price objective on Ingram Micro from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday. Jefferies Financial Group lowered their price objective on shares of Ingram Micro from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Finally, Evercore ISI cut their target price on shares of Ingram Micro from $27.00 to $26.00 and set an “in-line” rating for the company in a research note on Wednesday, March 5th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in INGM. Allspring Global Investments Holdings LLC bought a new stake in Ingram Micro during the fourth quarter worth about $17,432,000. Rhumbline Advisers bought a new position in shares of Ingram Micro in the fourth quarter valued at approximately $171,000. New York State Common Retirement Fund acquired a new position in shares of Ingram Micro in the 4th quarter worth approximately $304,000. Bank of New York Mellon Corp bought a new stake in Ingram Micro during the 4th quarter worth approximately $207,000. Finally, Keybank National Association OH acquired a new stake in Ingram Micro during the 4th quarter valued at $319,000.

Ingram Micro Price Performance

INGM stock opened at $19.21 on Monday. The firm’s 50 day moving average price is $17.78. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93. Ingram Micro has a 12-month low of $14.25 and a 12-month high of $25.69.

Ingram Micro (NYSE:INGM) last issued its 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 business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. On average, sell-side analysts forecast that Ingram Micro will post 2.71 earnings per share for the current year.

Ingram Micro Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.076 per share. This is a positive change from Ingram Micro’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Tuesday, May 20th.

Ingram Micro announced that its board has authorized a share repurchase plan on Tuesday, March 4th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management 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.