Ingram Micro Holding Corporation (NYSE:INGM) Given Consensus Rating of “Hold” by Analysts

Shares of Ingram Micro Holding Corporation (NYSE:INGM) have earned an average recommendation of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $24.50.

INGM has been the topic of several analyst reports. Morgan Stanley lifted their price target 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. William Blair reaffirmed an “outperform” rating on shares of Ingram Micro in a report on Tuesday, March 3rd. Royal Bank Of Canada reissued an “outperform” rating and set a $24.00 price target on shares of Ingram Micro in a report on Monday, December 22nd. Wall Street Zen upgraded Ingram Micro from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 7th. Finally, The Goldman Sachs Group cut Ingram Micro from a “strong-buy” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a research report on Tuesday, January 13th.

Hedge Funds Weigh In On Ingram Micro

Several hedge funds have recently modified their holdings of INGM. American Century Companies Inc. increased its holdings in Ingram Micro by 1.9% in the 3rd quarter. American Century Companies Inc. now owns 2,914,724 shares of the company’s stock valued at $62,637,000 after acquiring an additional 54,971 shares during the last quarter. Synergy Asset Management LLC purchased a new position in shares of Ingram Micro in the 3rd quarter worth $2,262,000. Crossingbridge Advisors LLC increased its holdings in shares of Ingram Micro by 600.0% in the 3rd quarter. Crossingbridge Advisors LLC now owns 70,000 shares of the company’s stock worth $1,504,000 after buying an additional 60,000 shares during the last quarter. Invenomic Capital Management LP raised its position in shares of Ingram Micro by 58.2% during the 3rd quarter. Invenomic Capital Management LP now owns 929,332 shares of the company’s stock valued at $19,971,000 after buying an additional 341,895 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Ingram Micro in the 2nd quarter valued at about $1,099,000.

Ingram Micro Price Performance

NYSE INGM opened at $24.27 on Thursday. The company has a 50-day moving average price of $21.93 and a 200-day moving average price of $21.66. Ingram Micro has a 52 week low of $14.25 and a 52 week high of $26.38. 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 firm has a market capitalization of $5.62 billion, a P/E ratio of 17.58, a PEG ratio of 0.80 and a beta of 1.37.

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

Ingram Micro Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were issued 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 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, March 10th. Ingram Micro’s payout ratio is presently 23.91%.

Ingram Micro declared that its board has authorized a share buyback program on Monday, March 2nd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.