Ingram Micro (NYSE:INGM) Rating Increased to Buy at Wall Street Zen

Key Points

• Ingram Micro has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, with ten analysts currently rating the stock as a buy.
• Several research firms have adjusted their ratings and price targets for Ingram Micro, with notable cuts from Morgan Stanley and Goldman Sachs.
• Ingram Micro reported earnings of $0.61 per share, beating estimates, and had a revenue of $12.79 billion during its last quarterly earnings.

Wall Street Zen upgraded shares of Ingram Micro (NYSE:INGM - Free Report) from a hold rating to a buy rating in a report issued on Friday.

INGM has been the subject of a number of other reports. Raymond James Financial decreased their price objective 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. JPMorgan Chase & Co. upped their price objective on shares of Ingram Micro from $21.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Zacks Research upgraded shares of Ingram Micro from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. The Goldman Sachs Group decreased their price target 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 decreased their price target for the company from $23.00 to $22.00 in a report on Wednesday, June 11th. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.79.

Ingram Micro Stock Up 2.3%

Shares of Ingram Micro stock traded up $0.47 on Friday, hitting $21.12. 212,345 shares of the company traded hands, compared to its average volume of 230,692. The company has a 50-day moving average price of $20.06 and a 200 day moving average price of $19.32. 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 12-month low of $14.25 and a 12-month high of $25.69. The company has a market cap of $4.96 billion and a PE ratio of 18.21.

Ingram Micro (NYSE:INGM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.61 EPS for the quarter, beating the consensus estimate 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 net margin of 0.53% and a return on equity of 17.33%. Sell-side analysts predict that Ingram Micro will post 2.71 earnings per share for the current year.

Ingram Micro Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were given a dividend of $0.078 per share. This is an increase from Ingram Micro's previous quarterly dividend of $0.08. This represents a $0.31 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Ingram Micro's dividend payout ratio (DPR) is currently 26.72%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new position in Ingram Micro in the fourth quarter worth about $52,000. State of Alaska Department of Revenue bought a new stake in shares of Ingram Micro during the first quarter valued at approximately $851,000. Wells Fargo & Company MN bought a new stake in shares of Ingram Micro during the fourth quarter valued at approximately $45,000. Bank of New York Mellon Corp grew its stake in shares of Ingram Micro by 108.4% during the first quarter. Bank of New York Mellon Corp now owns 22,193 shares of the company's stock valued at $394,000 after purchasing an additional 11,543 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Ingram Micro by 36.5% in the first quarter. Invesco Ltd. now owns 46,917 shares of the company's stock valued at $832,000 after acquiring an additional 12,542 shares during the last quarter.

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.