JPMorgan Chase & Co. Boosts Ingram Micro (NYSE:INGM) Price Target to $26.00

Key Points

• JPMorgan Chase raised its price target on Ingram Micro from $24 to $26 but kept an underweight rating, which implies roughly a 6.9% downside from the prior close.
• Analyst consensus is a Hold with an average price target of $28.14; broker targets vary (e.g., Goldman $30, Raymond James $34) and ratings split 3 Buy / 5 Hold / 1 Sell.
• Ingram Micro beat expectations with Q1 EPS of $0.75 (vs. $0.70) and revenue of $13.96B (vs. $12.76B), set Q2 guidance of $0.68–0.78, and authorized a $100M share buyback (~2% of shares); shares traded around $27.93.

Ingram Micro (NYSE:INGM - Get Free Report) had its target price increased by JPMorgan Chase & Co. from $24.00 to $26.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential downside of 6.89% from the company's previous close.

Several other equities research analysts also recently commented on the company. Evercore set a $26.00 target price on Ingram Micro in a report on Monday, April 20th. The Goldman Sachs Group raised their price objective on Ingram Micro from $25.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, April 23rd. Truist Financial began coverage on Ingram Micro in a research note on Tuesday, March 31st. They set a "hold" rating and a $25.00 price objective for the company. William Blair restated an "outperform" rating on shares of Ingram Micro in a research note on Tuesday, March 3rd. Finally, Raymond James Financial restated an "outperform" rating and set a $34.00 price objective on shares of Ingram Micro in a research note on Friday. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $28.14.

Ingram Micro Stock Up 0.1%

Shares of NYSE:INGM traded up $0.02 during mid-day trading on Monday, hitting $27.93. 1,621,577 shares of the company traded hands, compared to its average volume of 1,012,677. The firm has a market cap of $6.47 billion, a P/E ratio of 18.49, a PEG ratio of 0.95 and a beta of 2.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.97 and a current ratio of 1.33. Ingram Micro has a 52-week low of $18.05 and a 52-week high of $31.38. The firm's 50 day simple moving average is $24.91 and its 200 day simple moving average is $22.73.

Ingram Micro (NYSE:INGM - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.70 by $0.05. The business had revenue of $13.96 billion for the quarter, compared to the consensus estimate of $12.76 billion. Ingram Micro had a return on equity of 17.26% and a net margin of 0.66%.The firm's revenue was up 13.7% on a year-over-year basis. Ingram Micro has set its Q2 2026 guidance at 0.680-0.780 EPS. On average, equities analysts anticipate that Ingram Micro will post 3.16 EPS for the current year.

Ingram Micro declared that its board has initiated a share buyback program on Monday, March 2nd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Institutional Trading of Ingram Micro

A number of institutional investors and hedge funds have recently made changes to their positions in INGM. Balyasny Asset Management L.P. boosted its position in Ingram Micro by 1.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 48,618 shares of the company's stock valued at $1,038,000 after purchasing an additional 658 shares during the period. CWM LLC increased its position in Ingram Micro by 20.5% in the fourth quarter. CWM LLC now owns 4,144 shares of the company's stock worth $88,000 after buying an additional 705 shares during the period. Gotham Asset Management LLC increased its position in Ingram Micro by 1.0% in the fourth quarter. Gotham Asset Management LLC now owns 77,662 shares of the company's stock worth $1,657,000 after buying an additional 732 shares during the period. Covestor Ltd grew its position in shares of Ingram Micro by 15.4% during the fourth quarter. Covestor Ltd now owns 5,669 shares of the company's stock worth $121,000 after acquiring an additional 756 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Ingram Micro by 6.3% in the 2nd quarter. Rhumbline Advisers now owns 13,646 shares of the company's stock worth $284,000 after purchasing an additional 803 shares during the last quarter.

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.

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