Brokerages Set Ingram Micro Holding Corporation (NYSE:INGM) PT at $24.50

Ingram Micro Holding Corporation (NYSE:INGM) has been given an average rating of “Hold” by the nine analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $24.50.

INGM has been the subject of a number of research analyst reports. Raymond James Financial set a $27.00 target price on Ingram Micro in a research report on Tuesday, March 3rd. William Blair reaffirmed an “outperform” rating on shares of Ingram Micro in a research note on Tuesday, March 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Ingram Micro in a research note on Monday, December 22nd. Zacks Research raised Ingram Micro from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $24.00 price objective on shares of Ingram Micro in a research note on Monday, December 15th.

Ingram Micro Stock Up 1.3%

Shares of NYSE INGM opened at $25.07 on Thursday. The stock has a market cap of $5.81 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 0.84 and a beta of 1.39. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 0.65. Ingram Micro has a 52-week low of $14.25 and a 52-week high of $26.38. The business has a 50-day moving average price of $22.15 and a 200 day moving average price of $21.75.

Ingram Micro (NYSE:INGM) last announced its earnings results on Monday, March 2nd. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. The firm had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $14.18 billion. Ingram Micro had a return on equity of 16.78% and a net margin of 0.62%.Ingram Micro’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts forecast 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, March 24th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.082 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.33 annualized dividend and a yield of 1.3%. This is a boost from Ingram Micro’s previous quarterly dividend of $0.08. Ingram Micro’s dividend payout ratio (DPR) is currently 23.19%.

Ingram Micro announced that its board has approved a stock buyback plan on Monday, March 2nd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Ingram Micro

Several institutional investors and hedge funds have recently added to or reduced their stakes in INGM. Comerica Bank raised its stake in Ingram Micro by 2,844.2% during the 3rd quarter. Comerica Bank now owns 3,798 shares of the company’s stock valued at $82,000 after acquiring an additional 3,669 shares during the last quarter. CWM LLC raised its stake in shares of Ingram Micro by 20.5% during the 4th quarter. CWM LLC now owns 4,144 shares of the company’s stock worth $88,000 after buying an additional 705 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Ingram Micro by 33.2% during the 4th quarter. Wells Fargo & Company MN now owns 4,136 shares of the company’s stock worth $88,000 after buying an additional 1,031 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Ingram Micro during the 4th quarter worth approximately $94,000. Finally, Aquatic Capital Management LLC purchased a new position in shares of Ingram Micro during the 3rd quarter worth approximately $110,000.

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.