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

Shares of Ingram Micro Holding Corp. (NYSE:INGM - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seventeen research firms that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $25.79.

Several research firms have issued reports on INGM. Jefferies Financial Group dropped their price target on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. Raymond James dropped their price target on shares of Ingram Micro from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada upped their price target on shares of Ingram Micro from $26.00 to $28.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. 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 research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ingram Micro from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Friday, May 9th.

Ingram Micro Price Performance

NYSE INGM opened at $19.68 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93. The firm's fifty day moving average price is $18.08 and its two-hundred day moving average price is $20.23. Ingram Micro has a 1 year low of $14.25 and a 1 year high of $25.69.

Ingram Micro (NYSE:INGM - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.01. The firm 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 will post 2.71 earnings per share for the current year.

Ingram Micro declared that its board has approved a stock buyback plan on Tuesday, March 4th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Ingram Micro Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th were paid a $0.076 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This is an increase from Ingram Micro's previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 1.54%.

Hedge Funds Weigh In On Ingram Micro

Institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System acquired a new stake in Ingram Micro during the fourth quarter worth about $26,000. CWM LLC acquired a new stake in Ingram Micro during the first quarter worth about $26,000. Wells Fargo & Company MN acquired a new stake in Ingram Micro during the fourth quarter worth about $45,000. Cohen & Steers Inc. acquired a new stake in Ingram Micro during the fourth quarter worth about $48,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Ingram Micro during the fourth quarter worth about $52,000.

Ingram Micro Company Profile

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.

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