Morgan Stanley Issues Positive Forecast for Ingram Micro (NYSE:INGM) Stock Price

Key Points

• Morgan Stanley raised its price target on Ingram Micro to $33 from $27.50 while keeping an equal weight rating, implying about 14.6% upside from the current price.
• Ingram Micro reported strong quarterly results, with EPS of $0.75 topping estimates and revenue of $13.96 billion coming in above expectations, up 13.7% year over year.
• The company also authorized a $100 million share buyback, even as major shareholder Platinum Equity and another insider sold shares in recent transactions.

Ingram Micro (NYSE:INGM - Get Free Report) had its price objective boosted by equities researchers at Morgan Stanley from $27.50 to $33.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 14.60% from the company's current price.

Several other research firms have also recently weighed in on INGM. Weiss Ratings raised Ingram Micro from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, April 29th. The Goldman Sachs Group lifted their price target on shares of Ingram Micro from $25.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, April 23rd. Wall Street Zen downgraded Ingram Micro from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 9th. Truist Financial upped their price target on Ingram Micro from $25.00 to $29.00 and gave the company a "hold" rating in a research report on Tuesday, May 5th. Finally, William Blair restated an "outperform" rating on shares of Ingram Micro in a research note on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $30.29.

Ingram Micro Stock Up 1.7%

Shares of Ingram Micro stock traded up $0.48 during trading hours on Tuesday, reaching $28.80. The company's stock had a trading volume of 879,313 shares, compared to its average volume of 1,204,165. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.93 and a current ratio of 1.31. Ingram Micro has a one year low of $18.09 and a one year high of $31.69. The company has a market capitalization of $6.67 billion, a P/E ratio of 19.07, a P/E/G ratio of 0.83 and a beta of 1.79. The stock's fifty day simple moving average is $28.40 and its two-hundred day simple moving average is $24.32.

Ingram Micro (NYSE:INGM - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. Ingram Micro had a return on equity of 17.19% and a net margin of 0.66%.The company had revenue of $13.96 billion for the quarter, compared to analysts' expectations of $12.76 billion. The business'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, research analysts forecast that Ingram Micro will post 3.27 earnings per share for the current year.

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

Insider Activity at Ingram Micro

In other Ingram Micro news, major shareholder Platinum Equity, Llc sold 5,167,069 shares of Ingram Micro stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $29.03, for a total transaction of $150,000,013.07. Following the completion of the sale, the insider directly owned 177,466,319 shares in the company, valued at $5,151,847,240.57. The trade was a 2.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Augusto Aragone sold 10,000 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, the vice president owned 140,465 shares of the company's stock, valued at $4,213,950. This trade represents a 6.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 5,227,069 shares of company stock valued at $151,765,013. 0.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. American Century Companies Inc. raised its holdings in shares of Ingram Micro by 1.9% during the third quarter. American Century Companies Inc. now owns 2,914,724 shares of the company's stock valued at $62,637,000 after acquiring an additional 54,971 shares in the last quarter. Crossingbridge Advisors LLC boosted its position in shares of Ingram Micro by 600.0% during the third quarter. Crossingbridge Advisors LLC now owns 70,000 shares of the company's stock valued at $1,504,000 after purchasing an additional 60,000 shares in the last quarter. Invenomic Capital Management LP lifted its position in Ingram Micro by 58.2% during the third quarter. Invenomic Capital Management LP now owns 929,332 shares of the company's stock valued at $19,971,000 after buying an additional 341,895 shares during the period. Hussman Strategic Advisors Inc. purchased a new position in shares of Ingram Micro during the fourth quarter valued at approximately $896,000. Finally, Comerica Bank increased its position in Ingram Micro by 1,566.3% during the 4th quarter. Comerica Bank now owns 63,286 shares of the company's stock valued at $1,351,000 after buying an additional 59,488 shares in the last quarter.

About Ingram Micro

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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