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

Ingram Micro Holding Corp. (NYSE:INGM)’s share price hit a new 52-week low during 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 changing hands. The stock had previously closed at $19.57.

Several other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Ingram Micro from $33.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Melius began coverage on shares of Ingram Micro in a research report on Tuesday, November 26th. They issued a “hold” rating and a $26.00 price objective on the stock. Morgan Stanley decreased their price objective on shares of Ingram Micro from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ingram Micro in a research note on Monday, November 18th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Royal Bank of Canada upped their price objective on shares of Ingram Micro from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.93.

Hedge Funds Weigh In On Ingram Micro

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

Ingram Micro Stock Down 3.3 %

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

Ingram Micro (NYSE:INGM) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) 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. On average, sell-side analysts forecast that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

Ingram Micro Dividend Announcement

The business 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 $0.074 dividend. This represents a $0.30 annualized dividend 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 authorized a share buyback program on Tuesday, March 4th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.