Ingram Micro (NYSE:INGM) Given New $25.00 Price Target at Loop Capital

Ingram Micro (NYSE:INGM) had its price target cut by Loop Capital from $30.00 to $25.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Loop Capital’s price target would suggest a potential upside of 31.65% from the stock’s current price.

Several other analysts have also recently issued reports on INGM. Stifel Nicolaus began coverage on shares of Ingram Micro in a research report on Monday, November 18th. They set a “buy” rating and a $28.00 price target on the stock. Melius Research upgraded shares of Ingram Micro to a “hold” rating in a report on Tuesday, November 26th. Evercore ISI dropped their price target on shares of Ingram Micro from $27.00 to $26.00 and set an “in-line” rating for the company in a research note on Wednesday, March 5th. Redburn Atlantic started coverage on Ingram Micro in a research note on Monday, November 18th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Jefferies Financial Group began coverage on Ingram Micro in a report on Monday, November 18th. They set a “buy” rating and a $28.00 price target on the stock. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.93.

Ingram Micro Stock Performance

Shares of NYSE:INGM traded down $0.58 during mid-day trading on Monday, reaching $18.99. 270,871 shares of the company were exchanged, compared to its average volume of 417,722. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40. Ingram Micro has a 1 year low of $18.42 and a 1 year high of $25.69. The company has a 50-day moving average price of $21.96.

Ingram Micro (NYSE:INGM) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $13.21 billion. Equities research analysts forecast that Ingram Micro will post 2.71 EPS for the current year.

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

Hedge Funds Weigh In On Ingram Micro

A number of institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new position in Ingram Micro during the 4th quarter worth $118,000. Woodline Partners LP acquired a new stake in shares of Ingram Micro during the fourth quarter worth about $5,831,000. Zimmer Partners LP purchased a new position in shares of Ingram Micro during the fourth quarter worth about $291,000. Squarepoint Ops LLC acquired a new position in Ingram Micro in the 4th quarter valued at about $783,000. Finally, Sandia Investment Management LP purchased a new stake in Ingram Micro during the 4th quarter valued at approximately $388,000.

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.