Ingram Micro (NYSE:INGM) Price Target Lowered to $25.00 at Loop Capital

Ingram Micro (NYSE:INGM) had its target price cut by Loop Capital from $30.00 to $25.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

INGM has been the subject of several other reports. Evercore ISI lowered their price objective 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. William Blair began coverage on shares of Ingram Micro in a report on Monday, November 18th. They issued an “outperform” rating for the company. Redburn Atlantic began coverage on shares of Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $30.00 target price for the company. The Goldman Sachs Group reduced their price target on shares of Ingram Micro from $33.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ingram Micro in a research report on Monday, November 18th. They set a “buy” rating and a $26.00 price target for the company. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Ingram Micro currently has an average rating of “Moderate Buy” and an average target price of $26.93.

Ingram Micro Trading Down 3.3 %

Shares of NYSE:INGM opened at $18.93 on Monday. Ingram Micro has a 52-week low of $18.40 and a 52-week high of $25.69. The stock has a fifty day moving average of $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 posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.01. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. As a group, equities analysts anticipate that Ingram Micro will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid 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 of this dividend is Tuesday, March 11th.

Ingram Micro announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 4th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Ingram Micro

Hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN purchased a new stake in Ingram Micro in the 4th quarter worth $45,000. Cohen & Steers Inc. purchased a new stake in Ingram Micro in the 4th quarter valued at about $48,000. Tower Research Capital LLC TRC purchased a new stake in shares of Ingram Micro in the 4th quarter worth approximately $52,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Ingram Micro in the 4th quarter worth approximately $80,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Ingram Micro in the 4th quarter worth approximately $118,000.

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.