Ingram Micro Holding Corp. (NYSE:INGM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Ingram Micro Holding Corp. (NYSE:INGM) has been given an average rating of “Moderate Buy” by the sixteen ratings firms that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $28.14.

Several equities research analysts recently weighed in on the stock. Northcoast Research initiated coverage on shares of Ingram Micro in a research note on Friday, November 8th. They issued a “neutral” rating for the company. William Blair initiated coverage on shares of Ingram Micro in a research report on Monday, November 18th. They issued an “outperform” rating for the company. The Goldman Sachs Group initiated coverage on shares of Ingram Micro in a research report on Monday, November 18th. They issued a “buy” rating and a $33.00 price target for the company. Evercore ISI initiated coverage on shares of Ingram Micro in a research report on Monday, November 18th. They issued an “inline” rating and a $27.00 price target for the company. Finally, Loop Capital initiated coverage on shares of Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $30.00 price objective on the stock.

Hedge Funds Weigh In On Ingram Micro

Several large investors have recently bought and sold shares of INGM. Capital World Investors acquired a new position in Ingram Micro in the fourth quarter valued at approximately $68,295,000. Victory Capital Management Inc. acquired a new position in Ingram Micro in the fourth quarter valued at approximately $53,532,000. JPMorgan Chase & Co. acquired a new position in Ingram Micro in the fourth quarter valued at approximately $37,793,000. American Century Companies Inc. acquired a new position in Ingram Micro in the fourth quarter valued at approximately $36,268,000. Finally, Ameriprise Financial Inc. acquired a new position in Ingram Micro in the fourth quarter valued at approximately $30,683,000.

Ingram Micro Trading Up 0.6 %

NYSE INGM opened at $20.87 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. The company has a 50-day moving average of $21.99. Ingram Micro has a twelve month low of $18.90 and a twelve month high of $25.69.

Ingram Micro (NYSE:INGM) last released its earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.01. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. As a group, sell-side analysts expect that Ingram Micro will post 2.71 earnings per share for the current fiscal year.

Ingram Micro announced that its board has approved a stock buyback plan on Tuesday, March 4th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Ingram Micro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.074 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.42%.

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.