Ingram Micro (NYSE:INGM) Sets New 1-Year Low – Should You Sell?

Ingram Micro Holding Corp. (NYSE:INGM)’s share price reached a new 52-week low on Thursday . The company traded as low as $18.35 and last traded at $18.02, with a volume of 26296 shares traded. The stock had previously closed at $18.80.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Ingram Micro from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. The Goldman Sachs Group lowered their target price on Ingram Micro from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Morgan Stanley cut their price target on Ingram Micro from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Evercore ISI dropped their target price on shares of Ingram Micro from $27.00 to $26.00 and set an “in-line” rating on the stock in a research report on Wednesday, March 5th. Finally, Bank of America cut their target price on shares of Ingram Micro from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.64.

Ingram Micro Stock Down 1.8 %

The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. The firm’s 50 day moving average is $21.60.

Ingram Micro (NYSE:INGM) last released its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.01. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $13.21 billion. On average, sell-side analysts predict that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

Ingram Micro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.074 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.30 annualized dividend and a yield of 1.65%.

Ingram Micro declared that its board has initiated a share repurchase plan on Tuesday, March 4th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Ingram Micro

A number of large investors have recently bought and sold shares of the business. Capital World Investors acquired a new position in Ingram Micro in the fourth quarter worth $68,295,000. Victory Capital Management Inc. acquired a new position in Ingram Micro during the 4th quarter worth about $53,532,000. JPMorgan Chase & Co. bought a new stake in Ingram Micro during the 4th quarter worth about $37,793,000. American Century Companies Inc. acquired a new stake in Ingram Micro in the 4th quarter valued at about $36,268,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Ingram Micro in the fourth quarter worth about $30,683,000.

About Ingram Micro

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.