Wall Street Zen Downgrades Ingram Micro (NYSE:INGM) to Hold

Key Points

• Ingram Micro has been downgraded from a "buy" rating to a "hold" rating by analysts at Wall Street Zen, reflecting a shift in investor sentiment.
• Goldman Sachs and Morgan Stanley have also adjusted their price targets for Ingram Micro, with Goldman Sachs lowering it from $29.00 to $25.00 and Morgan Stanley from $23.00 to $22.00.
• Despite recent downgrades, Ingram Micro reported better-than-expected earnings, with a net earnings per share of $0.61 compared to the consensus estimate of $0.60.

Wall Street Zen downgraded shares of Ingram Micro (NYSE:INGM - Free Report) from a buy rating to a hold rating in a research note released on Saturday.

A number of other equities analysts have also recently issued reports on INGM. Morgan Stanley cut shares of Ingram Micro from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $23.00 to $22.00 in a research note on Wednesday, June 11th. The Goldman Sachs Group reduced their price objective on shares of Ingram Micro from $29.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Raymond James Financial reduced their price objective on shares of Ingram Micro from $26.00 to $24.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ingram Micro from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.79.

Ingram Micro Price Performance

Shares of INGM traded up $0.40 during mid-day trading on Friday, hitting $19.50. 40,428 shares of the company traded hands, compared to its average volume of 385,556. Ingram Micro has a one year low of $14.25 and a one year high of $25.69. The company has a current ratio of 1.39, a quick ratio of 0.93 and a debt-to-equity ratio of 0.75. The business has a 50-day moving average of $20.19 and a 200 day moving average of $19.86. The stock has a market capitalization of $4.58 billion and a price-to-earnings ratio of 16.88.

Ingram Micro (NYSE:INGM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. Ingram Micro had a net margin of 0.53% and a return on equity of 17.33%. The firm had revenue of $12.79 billion for the quarter, compared to analysts' expectations of $11.99 billion. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be issued a $0.078 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $0.31 dividend on an annualized basis and a yield of 1.6%. This is an increase from Ingram Micro's previous quarterly dividend of $0.08. Ingram Micro's payout ratio is presently 25.86%.

Institutional Trading of Ingram Micro

Institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System bought a new stake in shares of Ingram Micro during the 4th quarter worth approximately $26,000. CWM LLC bought a new stake in shares of Ingram Micro during the 1st quarter worth approximately $26,000. Wells Fargo & Company MN bought a new stake in shares of Ingram Micro during the 4th quarter worth approximately $45,000. Cohen & Steers Inc. bought a new position in Ingram Micro in the 4th quarter valued at approximately $48,000. Finally, Tower Research Capital LLC TRC bought a new position in Ingram Micro in the 4th quarter valued at approximately $52,000.

Ingram Micro Company Profile

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.