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

Shares of Ingram Micro Holding Corp. (NYSE:INGM - Get Free Report) have received an average rating of "Moderate Buy" from the seventeen brokerages that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $25.79.

Several equities analysts have recently issued reports on INGM shares. Raymond James dropped their price target on shares of Ingram Micro from $28.00 to $26.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Loop Capital dropped their price target on shares of Ingram Micro from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, March 10th. Jefferies Financial Group dropped their price target 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, March 25th. JPMorgan Chase & Co. raised their price target on shares of Ingram Micro from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Bank of America dropped their price target on shares of Ingram Micro from $30.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th.

Ingram Micro Stock Performance

Shares of NYSE:INGM traded up $0.57 on Monday, reaching $20.79. 320,529 shares of the company's stock were exchanged, compared to its average volume of 426,936. The company's fifty day moving average price is $17.78. Ingram Micro has a twelve month low of $14.25 and a twelve 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 - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.01. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $13.21 billion. Equities research analysts predict that Ingram Micro will post 2.71 earnings per share for the current year.

Ingram Micro Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be issued a $0.076 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.46%. This is a boost from Ingram Micro's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, May 20th.

Ingram Micro announced that its board has approved a share repurchase program on Tuesday, March 4th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On Ingram Micro

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new stake in Ingram Micro in the fourth quarter worth $37,793,000. Rhumbline Advisers acquired a new position in shares of Ingram Micro during the fourth quarter valued at about $171,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Ingram Micro during the fourth quarter valued at about $17,432,000. Barclays PLC acquired a new position in shares of Ingram Micro during the fourth quarter valued at about $1,092,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Ingram Micro during the fourth quarter valued at about $304,000.

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.