Zacks Research Downgrades Ingram Micro (NYSE:INGM) to Hold

Ingram Micro (NYSE:INGM) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

INGM has been the topic of several other reports. Raymond James Financial reissued an “outperform” rating and issued a $34.00 target price on shares of Ingram Micro in a research report on Friday, May 1st. Royal Bank Of Canada lifted their target price on Ingram Micro from $24.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Truist Financial raised their price objective on Ingram Micro from $29.00 to $31.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. Morgan Stanley increased their target price on shares of Ingram Micro from $27.50 to $33.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 23rd. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $33.00 price target on shares of Ingram Micro in a report on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Ingram Micro presently has a consensus rating of “Hold” and a consensus price target of $31.00.

Ingram Micro Stock Performance

Shares of INGM opened at $27.09 on Wednesday. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 0.66 and a beta of 1.75. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 1.31. Ingram Micro has a 1 year low of $18.77 and a 1 year high of $31.69. The company’s 50 day simple moving average is $28.36 and its 200 day simple moving average is $26.33.

Ingram Micro (NYSE:INGM) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. The company had revenue of $14.53 billion for the quarter, compared to analyst estimates of $13.85 billion. Ingram Micro had a return on equity of 18.07% and a net margin of 0.77%.Ingram Micro has set its Q3 2026 guidance at 0.720-0.820 EPS. On average, sell-side analysts predict that Ingram Micro will post 3.37 EPS for the current year.

Insider Activity

In other news, major shareholder Platinum Equity, Llc sold 5,167,069 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $29.03, for a total value of $150,000,013.07. Following the sale, the insider owned 177,466,319 shares in the company, valued at approximately $5,151,847,240.57. This represents a 2.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Augusto Aragone sold 10,000 shares of Ingram Micro stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $30.00, for a total value 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. Insiders sold a total of 5,227,069 shares of company stock valued at $151,765,013 in the last three months. Insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Ingram Micro

Hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP bought a new position in shares of Ingram Micro in the 2nd quarter worth about $35,000. Royal Bank of Canada increased its stake in shares of Ingram Micro by 252.2% in the first quarter. Royal Bank of Canada now owns 1,472 shares of the company’s stock valued at $34,000 after purchasing an additional 1,054 shares during the period. Meeder Asset Management Inc. bought a new stake in Ingram Micro during the 2nd quarter valued at $44,000. Comerica Bank raised its stake in shares of Ingram Micro by 2,844.2% during the third quarter. Comerica Bank now owns 3,798 shares of the company’s stock valued at $82,000 after purchasing an additional 3,669 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Ingram Micro by 33.2% in the 4th quarter. Wells Fargo & Company MN now owns 4,136 shares of the company’s stock worth $88,000 after acquiring an additional 1,031 shares during the period.

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.