Brokerages Set Ingram Micro Holding Corp. (NYSE:INGM) PT at $25.79

Ingram Micro Holding Corp. (NYSE:INGM) has been given a consensus rating of “Moderate Buy” by the seventeen research firms that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $25.79.

INGM has been the subject of several recent analyst reports. Raymond James decreased their price objective on shares of Ingram Micro from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Evercore ISI decreased their price objective on shares of Ingram Micro from $27.00 to $26.00 and set an “in-line” rating for the company in a report on Wednesday, March 5th. Jefferies Financial Group decreased their price objective on shares of Ingram Micro from $28.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. Loop Capital decreased their price objective on shares of Ingram Micro from $30.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, Bank of America decreased their price target on shares of Ingram Micro from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, March 5th.

Ingram Micro Price Performance

INGM opened at $20.27 on Friday. The company has a fifty day simple moving average of $18.23 and a 200 day simple moving average of $20.18. Ingram Micro has a twelve month low of $14.25 and a twelve month high of $25.69. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93.

Ingram Micro declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 4th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Ingram Micro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th were given a dividend of $0.076 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.50%. This is a boost from Ingram Micro’s previous quarterly dividend of $0.07.

Hedge Funds Weigh In On Ingram Micro

Institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in Ingram Micro by 46.0% in the 1st quarter. Rhumbline Advisers now owns 12,843 shares of the company’s stock valued at $228,000 after acquiring an additional 4,044 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Ingram Micro in the 1st quarter valued at about $372,000. Alyeska Investment Group L.P. increased its position in Ingram Micro by 634.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,436,187 shares of the company’s stock valued at $25,478,000 after acquiring an additional 1,240,675 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Ingram Micro in the 1st quarter valued at about $443,000. Finally, Wellington Management Group LLP increased its position in Ingram Micro by 124.9% in the 1st quarter. Wellington Management Group LLP now owns 3,128,110 shares of the company’s stock valued at $55,493,000 after acquiring an additional 1,737,236 shares in the last quarter.

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.