Ingram Micro Holding Corporation (NYSE:INGM) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Analyst consensus: Nine brokers give Ingram Micro a consensus "Hold" rating (1 sell, 5 hold, 3 buy) with an average 12-month price target of about $26.86.
• Quarterly beat: Ingram Micro reported $0.96 EPS vs. $0.90 expected and revenue of $14.88 billion (up 11.5% year-over-year), with analysts forecasting roughly $3.15 EPS for the fiscal year.
• Capital returns: The board authorized a $100 million share buyback (≈2% of shares) and raised the quarterly dividend to $0.082 (annualized $0.33, ~1.1% yield).

Shares of Ingram Micro Holding Corporation (NYSE:INGM - Get Free Report) have received an average recommendation of "Hold" from the nine research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $26.8571.

INGM has been the subject of a number of research analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Ingram Micro in a report on Friday, March 27th. Wall Street Zen raised Ingram Micro from a "buy" rating to a "strong-buy" rating in a report on Saturday. Truist Financial initiated coverage on Ingram Micro in a report on Tuesday, March 31st. They set a "hold" rating and a $25.00 price target for the company. William Blair reissued an "outperform" rating on shares of Ingram Micro in a report on Tuesday, March 3rd. Finally, Zacks Research raised Ingram Micro from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd.

Ingram Micro Price Performance

Shares of NYSE INGM opened at $30.34 on Monday. The stock has a market capitalization of $7.03 billion, a PE ratio of 21.98, a P/E/G ratio of 1.03 and a beta of 1.39. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.33 and a quick ratio of 0.97. The business has a fifty day moving average price of $24.21 and a two-hundred day moving average price of $22.48. Ingram Micro has a fifty-two week low of $17.35 and a fifty-two week high of $31.38.

Ingram Micro (NYSE:INGM - Get Free Report) last posted its quarterly earnings results on Monday, March 2nd. The company reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.06. Ingram Micro had a return on equity of 16.78% and a net margin of 0.62%.The company had revenue of $14.88 billion during the quarter, compared to analysts' expectations of $14.18 billion. The company's revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities analysts predict that Ingram Micro will post 3.15 earnings per share for the current fiscal year.

Ingram Micro declared that its board has approved a share repurchase program on Monday, March 2nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Ingram Micro Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were issued a dividend of $0.082 per share. This is an increase from Ingram Micro's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.1%. Ingram Micro's payout ratio is presently 23.91%.

Institutional Investors Weigh In On Ingram Micro

Hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. grew its position in Ingram Micro by 1.9% during the 3rd quarter. American Century Companies Inc. now owns 2,914,724 shares of the company's stock worth $62,637,000 after acquiring an additional 54,971 shares during the last quarter. Synergy Asset Management LLC bought a new stake in Ingram Micro during the 3rd quarter worth $2,262,000. Crossingbridge Advisors LLC grew its position in Ingram Micro by 600.0% during the 3rd quarter. Crossingbridge Advisors LLC now owns 70,000 shares of the company's stock worth $1,504,000 after acquiring an additional 60,000 shares during the last quarter. Invenomic Capital Management LP grew its position in Ingram Micro by 58.2% during the 3rd quarter. Invenomic Capital Management LP now owns 929,332 shares of the company's stock worth $19,971,000 after acquiring an additional 341,895 shares during the last quarter. Finally, Keybank National Association OH grew its position in Ingram Micro by 48.4% during the 4th quarter. Keybank National Association OH now owns 20,000 shares of the company's stock worth $427,000 after acquiring an additional 6,525 shares during the last quarter.

Ingram Micro Company Profile

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro's end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company's offerings are organized across several core areas.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.