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

Key Points

• Wall Street Zen downgraded Ingram Micro from a "strong-buy" to a "buy" rating.
• Analyst sentiment is mixed—3 Buys, 5 Holds and 1 Sell—with an average rating of "Hold" and an average target price of $24.50.
• Ingram Micro beat quarterly estimates (EPS $0.96 vs. $0.90; revenue $14.88B, up 11.5% YoY) and authorized a $100 million share buyback (about 2% of shares).

Ingram Micro (NYSE:INGM - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

Other research analysts also recently issued reports about the company. Raymond James Financial set a $27.00 price objective on Ingram Micro in a research report on Tuesday, March 3rd. Morgan Stanley lifted their price objective on Ingram Micro from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 3rd. William Blair restated an "outperform" rating on shares of Ingram Micro in a research report on Tuesday, March 3rd. Zacks Research upgraded Ingram Micro from a "strong sell" rating to a "hold" rating in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. restated an "underweight" rating and set a $24.00 price objective on shares of Ingram Micro in a research report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ingram Micro currently has an average rating of "Hold" and an average target price of $24.50.

Ingram Micro Price Performance

Shares of NYSE:INGM opened at $27.16 on Friday. The business's 50 day simple moving average is $22.59 and its 200-day simple moving average is $21.89. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 0.91 and a beta of 1.39. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.33 and a quick ratio of 0.97. Ingram Micro has a 12 month low of $14.71 and a 12 month high of $27.40.

Ingram Micro (NYSE:INGM - Get Free Report) last announced its quarterly earnings results on Monday, March 2nd. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.90 by $0.06. The business had revenue of $14.88 billion for the quarter, compared to analyst estimates of $14.18 billion. Ingram Micro had a return on equity of 16.78% and a net margin of 0.62%.The company's revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities analysts forecast that Ingram Micro will post 2.71 earnings per share for the current fiscal year.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of INGM. Comerica Bank raised its holdings in 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 during the last quarter. CWM LLC raised its holdings in 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 during the last quarter. Wells Fargo & Company MN raised its holdings in 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 during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Ingram Micro in the 4th quarter valued at $94,000. Finally, Aquatic Capital Management LLC acquired a new position in Ingram Micro in the 3rd quarter valued at $110,000.

Ingram Micro Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.