Ingram Micro Holding Corporation (NYSE:INGM) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Ingram Micro Holding Corporation (NYSE:INGM) have received an average recommendation of “Hold” from the nine brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $24.50.

INGM has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered shares of Ingram Micro from a “strong-buy” rating to a “neutral” rating and set a $24.00 target price on the stock. in a research report on Tuesday, January 13th. William Blair reaffirmed an “outperform” rating on shares of Ingram Micro in a research note on Tuesday, March 3rd. Royal Bank Of Canada restated an “outperform” rating and issued a $24.00 target price on shares of Ingram Micro in a report on Monday, December 22nd. Truist Financial assumed coverage on Ingram Micro in a research report on Tuesday. They issued a “hold” rating and a $25.00 price objective on the stock. Finally, Morgan Stanley boosted their price objective on Ingram Micro from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd.

Ingram Micro Stock Performance

Shares of INGM opened at $24.27 on Thursday. The firm has a market cap of $5.62 billion, a P/E ratio of 17.58, a PEG ratio of 0.80 and a beta of 1.37. The firm’s 50 day moving average price is $21.93 and its two-hundred day moving average price is $21.66. Ingram Micro has a twelve month low of $14.25 and a twelve month high of $26.38. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.97 and a current ratio of 1.33.

Ingram Micro (NYSE:INGM) last released its earnings results on Monday, March 2nd. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. The business had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $14.18 billion. Ingram Micro had a net margin of 0.62% and a return on equity of 16.78%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, analysts forecast that Ingram Micro will post 2.71 EPS for the current fiscal year.

Ingram Micro announced that its board has authorized a share buyback plan on Monday, March 2nd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Ingram Micro Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were paid a $0.082 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.33 dividend on an annualized basis and a yield of 1.4%. This is a boost from Ingram Micro’s previous quarterly dividend of $0.08. Ingram Micro’s dividend payout ratio is presently 23.91%.

Institutional Investors Weigh In On Ingram Micro

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in Ingram Micro by 11.8% in the second quarter. Geode Capital Management LLC now owns 103,184 shares of the company’s stock worth $2,150,000 after buying an additional 10,878 shares during the period. Creative Planning purchased a new position in Ingram Micro in the 2nd quarter worth approximately $601,000. Franklin Resources Inc. raised its stake in shares of Ingram Micro by 54.0% in the second quarter. Franklin Resources Inc. now owns 17,682 shares of the company’s stock worth $368,000 after purchasing an additional 6,199 shares during the last quarter. Rhumbline Advisers lifted its stake in Ingram Micro by 6.3% during the 2nd quarter. Rhumbline Advisers now owns 13,646 shares of the company’s stock valued at $284,000 after acquiring an additional 803 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Ingram Micro in the second quarter worth approximately $716,000.

Ingram Micro Company Profile

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro’s end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company’s offerings are organized across several core areas.