Ingram Micro Holding Corporation (NYSE:INGM) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of Ingram Micro Holding Corporation (NYSE:INGM - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seventeen analysts that are presently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $25.71.

Several analysts have issued reports on the stock. Evercore ISI lowered their target price on shares of Ingram Micro from $27.00 to $26.00 and set an "in-line" rating on the stock in a research note on Wednesday, March 5th. Bank of America decreased their price target on shares of Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. The Goldman Sachs Group dropped their price objective on Ingram Micro from $29.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Raymond James Financial decreased their target price on Ingram Micro from $28.00 to $26.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Finally, Morgan Stanley cut Ingram Micro from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $23.00 to $22.00 in a report on Wednesday, June 11th.

Hedge Funds Weigh In On Ingram Micro

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors bought a new position in shares of Ingram Micro during the fourth quarter valued at about $68,295,000. Victory Capital Management Inc. purchased a new stake in Ingram Micro during the 4th quarter valued at about $53,532,000. JPMorgan Chase & Co. bought a new position in Ingram Micro during the 4th quarter worth approximately $37,793,000. American Century Companies Inc. purchased a new position in Ingram Micro in the 4th quarter worth approximately $36,268,000. Finally, Wellington Management Group LLP lifted its position in Ingram Micro by 124.9% in the first quarter. Wellington Management Group LLP now owns 3,128,110 shares of the company's stock valued at $55,493,000 after purchasing an additional 1,737,236 shares during the last quarter.

Ingram Micro Trading Up 0.6%

Shares of INGM traded up $0.13 during midday trading on Tuesday, hitting $21.84. 140,395 shares of the company traded hands, compared to its average volume of 410,879. The stock has a 50-day moving average of $19.65 and a 200-day moving average of $19.93. The company has a current ratio of 1.40, a quick ratio of 0.95 and a debt-to-equity ratio of 0.78. Ingram Micro has a one year low of $14.25 and a one year high of $25.69.

Ingram Micro Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were issued a $0.076 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.39%. This is a positive change from Ingram Micro's previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, May 20th.

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.