Ingram Micro Holding Corp. (NYSE:INGM) Receives $25.79 Average Target Price from Analysts

Shares of Ingram Micro Holding Corp. (NYSE:INGM - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seventeen analysts that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $25.79.

INGM has been the topic of a number of analyst reports. Royal Bank of Canada upped their target price on Ingram Micro from $26.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. The Goldman Sachs Group dropped their price objective on Ingram Micro from $29.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Bank of America dropped their price objective on Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Loop Capital lowered their target price on Ingram Micro from $30.00 to $25.00 and set a "buy" rating for the company in a report on Monday, March 10th. Finally, Morgan Stanley upped their target price on Ingram Micro from $18.00 to $23.00 and gave the stock an "overweight" rating in a report on Friday, May 9th.

Institutional Trading of Ingram Micro

Several hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System acquired a new position in shares of Ingram Micro in the 4th quarter valued at $26,000. CWM LLC acquired a new position in shares of Ingram Micro in the 1st quarter valued at $26,000. Wells Fargo & Company MN acquired a new position in shares of Ingram Micro in the 4th quarter valued at $45,000. Cohen & Steers Inc. acquired a new position in shares of Ingram Micro in the 4th quarter valued at $48,000. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Ingram Micro in the 4th quarter valued at $52,000.

Ingram Micro Trading Down 0.3%

NYSE INGM traded down $0.06 during trading hours on Monday, hitting $20.83. 35,737 shares of the company were exchanged, compared to its average volume of 422,908. The stock has a 50-day moving average price of $17.87. 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 has a 52 week low of $14.25 and a 52 week high of $25.69.

Ingram Micro (NYSE:INGM - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $13.21 billion. As a group, research analysts expect that Ingram Micro will post 2.71 EPS for the current year.

Ingram Micro announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 4th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to buy up to 1.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Ingram Micro Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.076 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Tuesday, May 20th. This is a positive change from Ingram Micro's previous quarterly dividend of $0.07.

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.