Ingram Micro (NYSE:INGM) Raised to "Strong-Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Ingram Micro to a strong‑buy, while other analysts remain mixed (three Buy, five Hold, one Sell).
• Ingram Micro beat the quarter's estimates with EPS of $0.96 (vs. $0.90) and revenue of $14.88 billion (vs. $14.18 billion), with revenue up 11.5% year‑over‑year and a return on equity of 16.78%.
• The board authorized a $100 million share buyback (up to ~2% of shares); the stock was trading around $30.34, above analysts' average price target of $26.86.

Ingram Micro (NYSE:INGM - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.

INGM has been the subject of a number of other research reports. Royal Bank Of Canada boosted their price objective on shares of Ingram Micro from $24.00 to $33.00 and gave the company an "outperform" rating in a research report on Tuesday. Evercore set a $26.00 price objective on shares of Ingram Micro in a research report on Monday. William Blair reaffirmed an "outperform" rating on shares of Ingram Micro in a research report on Tuesday, March 3rd. The Goldman Sachs Group boosted their price objective on shares of Ingram Micro from $25.00 to $30.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Morgan Stanley boosted their price objective on shares of Ingram Micro from $21.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $26.86.

Ingram Micro Stock Performance

Shares of INGM stock opened at $30.34 on Friday. Ingram Micro has a 12 month low of $17.35 and a 12 month high of $31.38. 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 firm has a market capitalization of $7.03 billion, a P/E ratio of 21.98, a P/E/G ratio of 1.03 and a beta of 1.39. The company's fifty day moving average price is $24.21 and its two-hundred day moving average price is $22.47.

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

Ingram Micro announced that its Board of Directors has authorized a share buyback program on Monday, March 2nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Ingram Micro

Hedge funds have recently made changes to their positions in the company. Comerica Bank lifted its position in shares of Ingram Micro by 2,844.2% in the 3rd quarter. Comerica Bank now owns 3,798 shares of the company's stock valued at $82,000 after acquiring an additional 3,669 shares in the last quarter. CWM LLC lifted its position in shares of Ingram Micro by 20.5% in the 4th quarter. CWM LLC now owns 4,144 shares of the company's stock valued at $88,000 after acquiring an additional 705 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Ingram Micro by 33.2% in the 4th quarter. Wells Fargo & Company MN now owns 4,136 shares of the company's stock valued at $88,000 after acquiring an additional 1,031 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Ingram Micro in the 4th quarter valued at approximately $94,000. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Ingram Micro in the 3rd quarter valued at approximately $110,000.

About Ingram Micro

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.

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