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

Key Points

• Ingram Micro Holding Corporation has received a consensus rating of "Moderate Buy" from analysts, with an average 12-month price target of $25.79.
• The company recently announced an increase in its quarterly dividend to $0.078, representing an annualized dividend of $0.31 and a yield of 1.5%.
• Ingram Micro's stock opened at $21.04, reflecting a 0.7% decline, with a recent market cap of $4.94 billion.

Shares of Ingram Micro Holding Corporation (NYSE:INGM - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eighteen ratings firms that are presently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $25.7857.

INGM has been the topic of several recent analyst reports. Morgan Stanley lowered Ingram Micro from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $23.00 to $22.00 in a research note on Wednesday, June 11th. Wall Street Zen raised Ingram Micro from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. JPMorgan Chase & Co. upped their price objective on Ingram Micro from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Zacks Research upgraded Ingram Micro from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Raymond James Financial reduced their price objective on Ingram Micro from $26.00 to $24.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new position in Ingram Micro during the 2nd quarter worth approximately $1,099,000. BNP Paribas Financial Markets raised its position in shares of Ingram Micro by 1,079.7% in the second quarter. BNP Paribas Financial Markets now owns 106,766 shares of the company's stock worth $2,225,000 after buying an additional 97,716 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Ingram Micro during the second quarter valued at about $1,512,000. Ameriprise Financial Inc. increased its holdings in shares of Ingram Micro by 10.0% in the second quarter. Ameriprise Financial Inc. now owns 1,030,021 shares of the company's stock worth $21,466,000 after buying an additional 93,954 shares during the period. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of Ingram Micro in the second quarter worth about $762,000.

Ingram Micro Stock Down 0.7%

Shares of Ingram Micro stock opened at $21.04 on Friday. The firm has a market cap of $4.94 billion and a price-to-earnings ratio of 18.14. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.39 and a quick ratio of 0.93. Ingram Micro has a 52-week low of $14.25 and a 52-week high of $25.69. The stock has a 50-day simple moving average of $20.04 and a 200-day simple moving average of $19.29.

Ingram Micro (NYSE:INGM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. The business had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $11.99 billion. Ingram Micro had a return on equity of 17.33% and a net margin of 0.53%. On average, equities research analysts expect that Ingram Micro will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were issued a $0.078 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.31 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Ingram Micro's previous quarterly dividend of $0.08. Ingram Micro's dividend payout ratio (DPR) is 26.72%.

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.

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