Ingram Micro Holding Corporation (NYSE:INGM) Receives $25.79 Average PT from Brokerages

Key Points

• Ingram Micro Holding Corporation has received a consensus rating of "Moderate Buy" from 17 analysts, with an average twelve-month price objective set at $25.79.
• The company reported a quarterly earnings per share of $0.61, exceeding analysts' expectations, alongside revenue of $12.79 billion, surpassing forecasts of $11.99 billion.
• Ingram Micro recently declared a quarterly dividend increase, paying $0.078 per share, which represents a dividend yield of 1.6%.

Ingram Micro Holding Corporation (NYSE:INGM - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seventeen ratings firms that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $25.7857.

A number of research analysts have issued reports on the company. The Goldman Sachs Group reduced their price target on Ingram Micro from $29.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Raymond James Financial decreased their target price on Ingram Micro from $26.00 to $24.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on Ingram Micro from $21.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Wall Street Zen cut Ingram Micro from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Morgan Stanley cut Ingram Micro from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $23.00 to $22.00 in a research note on Wednesday, June 11th.

Ingram Micro Stock Performance

INGM stock traded down $0.1190 during trading on Wednesday, reaching $19.2110. 247,250 shares of the company's stock were exchanged, compared to its average volume of 392,472. The company has a quick ratio of 0.93, a current ratio of 1.39 and a debt-to-equity ratio of 0.75. Ingram Micro has a 1-year low of $14.25 and a 1-year high of $25.69. The company's fifty day moving average price is $20.14 and its 200-day moving average price is $19.73. The firm has a market cap of $4.51 billion and a PE ratio of 6.78.

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

Ingram Micro Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be issued a dividend of $0.078 per share. This is a positive change from Ingram Micro's previous quarterly dividend of $0.08. This represents a $0.31 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, August 19th. Ingram Micro's dividend payout ratio (DPR) is currently 26.72%.

Institutional Investors Weigh In On Ingram Micro

Several hedge funds have recently modified their holdings of INGM. Geode Capital Management LLC purchased a new stake in shares of Ingram Micro during the fourth quarter valued at $1,693,000. Wells Fargo & Company MN purchased a new stake in shares of Ingram Micro during the fourth quarter valued at $45,000. Russell Investments Group Ltd. purchased a new stake in shares of Ingram Micro during the fourth quarter valued at $120,000. Invesco Ltd. purchased a new stake in shares of Ingram Micro during the fourth quarter valued at $667,000. Finally, Barclays PLC purchased a new stake in shares of Ingram Micro during the fourth quarter valued at $1,092,000.

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.