Ingram Micro Holding Corporation (NYSE:INGM) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Ingram Micro Holding Corporation (NYSE:INGM - Get Free Report) have earned a consensus rating of "Moderate Buy" from the seventeen analysts that are covering the stock, Marketbeat Ratings reports. Seven investment 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 brokerages that have covered the stock in the last year is $25.71.

A number of equities analysts recently weighed in on INGM shares. Morgan Stanley downgraded shares of Ingram Micro from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $23.00 to $22.00 in a report on Wednesday, June 11th. Jefferies Financial Group reduced their target price on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. JPMorgan Chase & Co. lifted their price target on shares of Ingram Micro from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Loop Capital reduced their price objective 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, The Goldman Sachs Group lowered their target price 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.

Ingram Micro Price Performance

Shares of INGM traded up $0.13 on Tuesday, reaching $21.84. 140,395 shares of the company's stock traded hands, compared to its average volume of 410,879. The stock's 50 day simple moving average is $19.65 and its two-hundred day simple moving average is $19.93. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.95 and a current ratio of 1.40. Ingram Micro has a 52-week low of $14.25 and a 52-week high of $25.69.

Ingram Micro Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were given a dividend of $0.076 per share. The ex-dividend date was Tuesday, May 20th. This is a boost from Ingram Micro's previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 1.39%.

Hedge Funds Weigh In On Ingram Micro

Large investors have recently modified their holdings of the company. California State Teachers Retirement System bought a new position in Ingram Micro in the 4th quarter valued at $26,000. CWM LLC bought a new stake in Ingram Micro during the first quarter valued at $26,000. Wells Fargo & Company MN purchased a new position in Ingram Micro during the fourth quarter worth about $45,000. Cohen & Steers Inc. bought a new position in Ingram Micro in the 4th quarter worth about $48,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Ingram Micro in the 4th quarter valued at about $52,000.

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.