Ingram Micro (NYSE:INGM) Rating Lowered to Hold at Zacks Research

Ingram Micro (NYSE:INGM) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Several other research analysts have also weighed in on the stock. Weiss Ratings raised shares of Ingram Micro from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 7th. The Goldman Sachs Group restated a “neutral” rating and issued a $33.00 target price on shares of Ingram Micro in a research note on Friday, July 31st. JPMorgan Chase & Co. upgraded Ingram Micro from an “underweight” rating to a “neutral” rating and set a $27.00 price target for the company in a research note on Wednesday, May 27th. Morgan Stanley upped their price objective on Ingram Micro from $27.50 to $33.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 23rd. Finally, Truist Financial increased their target price on Ingram Micro from $29.00 to $31.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.00.

Ingram Micro Price Performance

INGM stock opened at $27.09 on Wednesday. The stock’s 50 day moving average is $28.36 and its two-hundred day moving average is $26.33. Ingram Micro has a 52-week low of $18.77 and a 52-week high of $31.69. The company has a market capitalization of $6.25 billion, a PE ratio of 14.80, a P/E/G ratio of 0.66 and a beta of 1.75. The company has a quick ratio of 0.88, a current ratio of 1.31 and a debt-to-equity ratio of 0.60.

Ingram Micro (NYSE:INGM) last released its earnings results on Thursday, July 30th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.74 by $0.08. Ingram Micro had a return on equity of 18.07% and a net margin of 0.77%.The company had revenue of $14.53 billion during the quarter, compared to analysts’ expectations of $13.85 billion. Ingram Micro has set its Q3 2026 guidance at 0.720-0.820 EPS. Analysts predict that Ingram Micro will post 3.37 earnings per share for the current fiscal year.

Insider Transactions at Ingram Micro

In other news, major shareholder Platinum Equity, Llc sold 5,167,069 shares of Ingram Micro stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $29.03, for a total value of $150,000,013.07. Following the transaction, the insider directly owned 177,466,319 shares of the company’s stock, valued at $5,151,847,240.57. This trade represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Augusto Aragone sold 50,000 shares of Ingram Micro stock in a transaction on Friday, June 12th. The shares were sold at an average price of $29.30, for a total value of $1,465,000.00. Following the transaction, the vice president owned 150,465 shares in the company, valued at $4,408,624.50. This represents a 24.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,227,069 shares of company stock worth $151,765,013 in the last three months. 0.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in Ingram Micro by 252.2% in the 1st quarter. Royal Bank of Canada now owns 1,472 shares of the company’s stock valued at $34,000 after buying an additional 1,054 shares during the period. Allworth Financial LP bought a new position in Ingram Micro during the second quarter worth about $35,000. Meeder Asset Management Inc. acquired a new stake in Ingram Micro in the 2nd quarter valued at $44,000. Comerica Bank grew its holdings in shares of Ingram Micro by 2,844.2% in the 3rd quarter. Comerica Bank now owns 3,798 shares of the company’s stock worth $82,000 after purchasing an additional 3,669 shares during the last quarter. Finally, CWM LLC grew its stake in Ingram Micro by 20.5% during the fourth quarter. CWM LLC now owns 4,144 shares of the company’s stock worth $88,000 after buying an additional 705 shares during the last quarter.

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.