Ingram Micro Holding Corporation (NYSE:INGM) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analysts rate Ingram Micro “Moderate Buy”: Of 10 covering firms, five recommend hold, four buy, and one strong buy; the average 12-month price target is $30.50.
• Quarterly results topped expectations: Ingram Micro reported EPS of $0.91 versus $0.78 expected and revenue of $15.22 billion versus $13.83 billion expected.
• The company raised its quarterly dividend from $0.086 to $0.088 per share, equivalent to an annualized dividend of about $0.35 and a 1.2% yield.

Ingram Micro Holding Corporation (NYSE:INGM - Get Free Report) has earned a consensus rating of "Moderate Buy" from the ten research firms that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $30.50.

Several analysts recently weighed in on the company. Wall Street Zen upgraded Ingram Micro from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 31st. Deutsche Bank started coverage on shares of Ingram Micro in a research note on Monday, August 31st. They issued a "hold" rating and a $30.00 price objective for the company. Morgan Stanley dropped their target price on shares of Ingram Micro from $33.00 to $30.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 16th. Weiss Ratings raised shares of Ingram Micro from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 30th. Finally, Truist Financial boosted their price target on shares of Ingram Micro from $29.00 to $31.00 and gave the company a "hold" rating in a report on Tuesday, August 4th.

Insider Transactions at Ingram Micro

In related news, major shareholder Platinum Equity, Llc sold 1,968,750 shares of Ingram Micro stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $27.19, for a total transaction of $53,530,312.50. Following the transaction, the insider directly owned 162,372,569 shares of the company's stock, valued at $4,414,910,151.11. This trade represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.95% of the stock is currently owned by insiders.

Institutional Trading of Ingram Micro

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its position in shares of Ingram Micro by 252.2% in the 1st quarter. Royal Bank of Canada now owns 1,472 shares of the company's stock worth $34,000 after acquiring an additional 1,054 shares in the last quarter. Allworth Financial LP bought a new stake in Ingram Micro during the second quarter valued at about $35,000. Integrated Wealth Concepts LLC bought a new stake in Ingram Micro during the second quarter valued at about $38,000. Reyes Financial Architecture Inc. purchased a new position in Ingram Micro in the third quarter valued at about $43,000. Finally, Meeder Asset Management Inc. purchased a new position in Ingram Micro in the second quarter valued at about $44,000.

Ingram Micro Stock Down 1.0%

Shares of NYSE:INGM opened at $28.48 on Friday. Ingram Micro has a 52-week low of $19.03 and a 52-week high of $31.69. The stock has a market cap of $6.55 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 0.62 and a beta of 1.69. The business's 50 day moving average is $27.28 and its 200 day moving average is $26.61. The company has a quick ratio of 0.88, a current ratio of 1.31 and a debt-to-equity ratio of 0.65.

Ingram Micro (NYSE:INGM - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.13. Ingram Micro had a return on equity of 18.76% and a net margin of 0.79%. The business had revenue of $15.22 billion during the quarter, compared to analyst estimates of $13.83 billion. During the same period in the previous year, the company posted $0.72 EPS. Sell-side analysts predict that Ingram Micro will post 3.58 EPS for the current year.

Ingram Micro Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 9th will be paid a dividend of $0.0880 per share. This is a boost from Ingram Micro's previous quarterly dividend of $0.0860. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, November 9th. Ingram Micro's payout ratio is 17.68%.

Ingram Micro Company Profile

Ingram Micro is a global technology distributor and services provider that connects technology manufacturers with businesses and channel partners. Its customers include resellers, system integrators, managed service providers and retailers. The company distributes products and solutions across areas such as computing, networking, data centers, cybersecurity and cloud services. It also provides logistics, financing, technical support and other services that help partners sell, deploy and manage technology.

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