Analysts Set Ingram Micro Holding Corporation (NYSE:INGM) Price Target at $24.50

Ingram Micro Holding Corporation (NYSE:INGM) has earned an average rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $24.50.

INGM has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingram Micro in a research note on Friday, March 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Ingram Micro in a research note on Monday, December 22nd. William Blair reaffirmed an “outperform” rating on shares of Ingram Micro in a research note on Tuesday, March 3rd. Morgan Stanley lifted their price objective on shares of Ingram Micro from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Finally, Raymond James Financial set a $27.00 price objective on shares of Ingram Micro in a research note on Tuesday, March 3rd.

Ingram Micro Stock Up 3.5%

NYSE INGM opened at $26.84 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average of $22.36 and a two-hundred day moving average of $21.81. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 0.84 and a beta of 1.39. Ingram Micro has a 52 week low of $14.40 and a 52 week high of $27.40.

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

Ingram Micro Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were paid a dividend of $0.082 per share. This is an increase from Ingram Micro’s previous quarterly dividend of $0.08. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, March 10th. Ingram Micro’s payout ratio is presently 23.91%.

Ingram Micro announced that its Board of Directors has initiated a share buyback plan on Monday, March 2nd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Ingram Micro

A number of large investors have recently made changes to their positions in INGM. Comerica Bank boosted its stake in shares of Ingram Micro by 2,844.2% during the third quarter. Comerica Bank now owns 3,798 shares of the company’s stock valued at $82,000 after purchasing an additional 3,669 shares during the period. CWM LLC boosted its stake in shares of Ingram Micro by 20.5% during the fourth quarter. CWM LLC now owns 4,144 shares of the company’s stock valued at $88,000 after purchasing an additional 705 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Ingram Micro by 33.2% during the fourth quarter. Wells Fargo & Company MN now owns 4,136 shares of the company’s stock valued at $88,000 after purchasing an additional 1,031 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Ingram Micro during the fourth quarter valued at $94,000. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Ingram Micro during the third quarter valued at $110,000.

About Ingram Micro

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.