Ingram Micro (NYSE:INGM) Upgraded 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 research note published on Friday morning.

INGM has been the subject of several other research reports. Morgan Stanley lowered Ingram Micro from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $23.00 to $22.00 in a report on Wednesday, June 11th. Raymond James Financial dropped their target price 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. The Goldman Sachs Group dropped their price objective on Ingram Micro from $29.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. JPMorgan Chase & Co. lifted their target price 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. Finally, Zacks Research raised Ingram Micro from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $25.79.

Ingram Micro Stock Performance

INGM stock traded up $0.18 during midday trading on Friday, hitting $20.62. The company's stock had a trading volume of 97,262 shares, compared to its average volume of 370,118. The stock has a market cap of $4.84 billion and a price-to-earnings ratio of 17.77. The company has a quick ratio of 0.93, a current ratio of 1.39 and a debt-to-equity ratio of 0.75. The stock's 50-day moving average price is $20.09 and its 200 day moving average price is $19.32. Ingram Micro has a 1 year low of $14.25 and a 1 year high of $25.69.

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, topping analysts' consensus estimates of $0.60 by $0.01. The firm had revenue of $12.79 billion during the quarter, compared to analyst estimates of $11.99 billion. Ingram Micro had a return on equity of 17.33% and a net margin of 0.53%. On average, equities analysts forecast that Ingram Micro will post 2.71 EPS for the current year.

Ingram Micro Increases Dividend

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

Hedge Funds Weigh In On Ingram Micro

Institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new position in shares of Ingram Micro in the 2nd quarter valued at approximately $1,099,000. BNP Paribas Financial Markets increased its stake in shares of Ingram Micro by 1,079.7% during the second quarter. BNP Paribas Financial Markets now owns 106,766 shares of the company's stock worth $2,225,000 after acquiring an additional 97,716 shares during the period. Balyasny Asset Management L.P. purchased a new position in Ingram Micro during the second quarter worth about $1,512,000. Ameriprise Financial Inc. raised its stake in shares of Ingram Micro by 10.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,030,021 shares of the company's stock worth $21,466,000 after buying an additional 93,954 shares in the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Ingram Micro in the 2nd quarter valued at approximately $762,000.

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.