Ingram Micro Holding Corporation (NYSE:INGM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Ingram Micro Holding Corporation (NYSE:INGM) has been assigned an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $25.7857.

Several brokerages have recently commented on INGM. The Goldman Sachs Group lowered their price objective on shares of Ingram Micro from $29.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. upped their price objective on shares of Ingram Micro from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Morgan Stanley downgraded shares of Ingram Micro from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $23.00 to $22.00 in a research note on Wednesday, June 11th. Raymond James Financial lowered their price objective on shares of Ingram Micro from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Finally, Wall Street Zen downgraded shares of Ingram Micro from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th.

Hedge Funds Weigh In On Ingram Micro

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new position in shares of Ingram Micro during the fourth quarter valued at about $52,000. State of Alaska Department of Revenue purchased a new position in shares of Ingram Micro during the first quarter valued at about $851,000. Barclays PLC purchased a new position in shares of Ingram Micro during the fourth quarter valued at about $1,092,000. Wells Fargo & Company MN purchased a new position in shares of Ingram Micro during the fourth quarter valued at about $45,000. Finally, Bank of New York Mellon Corp increased its position in shares of Ingram Micro by 108.4% during the first quarter. Bank of New York Mellon Corp now owns 22,193 shares of the company’s stock valued at $394,000 after buying an additional 11,543 shares during the period.

Ingram Micro Stock Performance

Ingram Micro stock opened at $19.3690 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.39 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $4.55 billion and a PE ratio of 16.70. The firm has a fifty day simple moving average of $20.15 and a two-hundred day simple moving average of $19.74. Ingram Micro has a twelve month low of $14.25 and a twelve month high of $25.69.

Ingram Micro (NYSE:INGM) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $11.99 billion. Ingram Micro had a net margin of 0.53% and a return on equity of 17.33%. Research analysts expect that Ingram Micro will post 2.71 EPS for the current year.

Ingram Micro Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given a dividend of $0.078 per share. This is an increase from Ingram Micro’s previous quarterly dividend of $0.08. This represents a $0.31 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, August 19th. Ingram Micro’s dividend payout ratio is presently 25.86%.

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.