Ingram Micro (NYSE:INGM) Stock Rating Lowered by Wall Street Zen

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 cut shares of Ingram Micro (NYSE:INGM - Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

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

Ingram Micro Stock Performance

INGM stock traded up $0.31 during mid-day trading on Friday, reaching $19.11. 217,999 shares of the stock traded hands, compared to its average volume of 386,884. 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 52 week low of $14.25 and a 52 week high of $25.69. The business has a 50-day moving average of $20.20 and a two-hundred day moving average of $19.86. The firm has a market capitalization of $4.49 billion and a PE ratio of 16.47.

Ingram Micro (NYSE:INGM - Get Free Report) last released 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. The business had revenue of $12.79 billion for the quarter, compared to analysts' expectations of $11.99 billion. Ingram Micro had a return on equity of 17.33% and a net margin of 0.53%. As a group, equities analysts predict that Ingram Micro will post 2.71 EPS 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

A number of institutional investors have recently bought and sold shares of INGM. Rhumbline Advisers lifted its holdings in shares of Ingram Micro by 6.3% during the 2nd quarter. Rhumbline Advisers now owns 13,646 shares of the company's stock worth $284,000 after acquiring an additional 803 shares during the period. Public Employees Retirement System of Ohio increased its position in Ingram Micro by 16.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,369 shares of the company's stock valued at $133,000 after acquiring an additional 917 shares during the period. California State Teachers Retirement System acquired a new position in Ingram Micro in the 4th quarter valued at approximately $26,000. CWM LLC acquired a new position in Ingram Micro in the 1st quarter valued at approximately $26,000. Finally, Wells Fargo & Company MN acquired a new position in Ingram Micro in the 4th quarter valued at approximately $45,000.

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.