Ingram Micro (NYSE:INGM) Sets New 1-Year Low on Analyst Downgrade

Ingram Micro Holding Corp. (NYSE:INGM) shares reached a new 52-week low during mid-day trading on Monday after Loop Capital lowered their price target on the stock from $30.00 to $25.00. Loop Capital currently has a buy rating on the stock. Ingram Micro traded as low as $18.88 and last traded at $18.91, with a volume of 164585 shares. The stock had previously closed at $19.57.

INGM has been the subject of several other research reports. BNP Paribas assumed coverage on Ingram Micro in a research note on Monday, November 18th. They set a “neutral” rating and a $25.00 target price for the company. Royal Bank of Canada increased their target price on Ingram Micro from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Stifel Nicolaus began coverage on Ingram Micro in a report on Monday, November 18th. They set a “buy” rating and a $28.00 price target for the company. Melius initiated coverage on Ingram Micro in a report on Tuesday, November 26th. They set a “hold” rating and a $26.00 price target for the company. Finally, Raymond James lowered their target price on Ingram Micro from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in INGM. Public Employees Retirement System of Ohio bought a new position in Ingram Micro during the fourth quarter worth about $118,000. Woodline Partners LP acquired a new stake in shares of Ingram Micro in the 4th quarter valued at about $5,831,000. Zimmer Partners LP acquired a new stake in shares of Ingram Micro in the fourth quarter valued at about $291,000. Squarepoint Ops LLC acquired a new stake in shares of Ingram Micro in the fourth quarter valued at about $783,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Ingram Micro in the fourth quarter valued at about $388,000.

Ingram Micro Stock Down 3.3 %

The firm’s 50-day moving average price is $21.94. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93.

Ingram Micro (NYSE:INGM) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.01. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $13.21 billion. Research analysts expect that Ingram Micro Holding Corp. will post 2.71 EPS for the current year.

Ingram Micro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders 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 dividend yield of 1.56%. The ex-dividend date is Tuesday, March 11th.

Ingram Micro announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.