Share Repurchase Plan Approved by Ingram Micro (NYSE:INGM)

Ingram Micro (NYSE:INGM) declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th, RTT News reports. The company plans to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Ingram Micro Trading Up 0.6 %

Shares of Ingram Micro stock traded up $0.13 during trading hours on Tuesday, hitting $20.87. 645,863 shares of the company’s stock traded hands, compared to its average volume of 411,492. Ingram Micro has a 12-month low of $18.90 and a 12-month high of $25.69. The stock’s fifty day moving average is $21.99. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96.

Ingram Micro (NYSE:INGM) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Equities research analysts anticipate that Ingram Micro will post 2.71 EPS for the current year.

Ingram Micro Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. William Blair assumed coverage on Ingram Micro in a report on Monday, November 18th. They issued an “outperform” rating on the stock. Loop Capital initiated coverage on Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $30.00 price objective on the stock. Northcoast Research initiated coverage on Ingram Micro in a research note on Friday, November 8th. They set a “neutral” rating on the stock. BNP Paribas initiated coverage on Ingram Micro in a research note on Monday, November 18th. They set a “neutral” rating and a $25.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $26.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.14.

Ingram Micro Company Profile

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.