JPMorgan Chase & Co. Has Lowered Expectations for Ingram Micro (NYSE:INGM) Stock Price

Ingram Micro (NYSE:INGM) had its target price reduced by JPMorgan Chase & Co. from $27.00 to $26.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

INGM has been the topic of several other reports. Bank of America initiated coverage on shares of Ingram Micro in a report on Monday, November 18th. They issued a “buy” rating and a $30.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Ingram Micro from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday. Stifel Nicolaus began coverage on shares of Ingram Micro in a report on Monday, November 18th. They set a “buy” rating and a $28.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of Ingram Micro in a report on Monday, November 18th. They set a “buy” rating and a $33.00 price objective on the stock. Finally, BNP Paribas began coverage on shares of Ingram Micro in a report on Monday, November 18th. They set a “neutral” rating and a $25.00 price objective on the stock. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Ingram Micro has a consensus rating of “Moderate Buy” and an average target price of $27.29.

Ingram Micro Stock Down 5.5 %

Ingram Micro stock opened at $19.84 on Wednesday. Ingram Micro has a fifty-two week low of $18.90 and a fifty-two week 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. The company’s 50 day moving average is $21.97.

Ingram Micro (NYSE:INGM) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.01. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. As a group, analysts predict that Ingram Micro will post 2.71 earnings per share for the current year.

Ingram Micro declared that its board has authorized a stock repurchase program on Tuesday, March 4th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Ingram Micro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a dividend of $0.074 per share. The ex-dividend date is Tuesday, March 11th. This represents a $0.30 annualized dividend and a dividend yield of 1.49%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN acquired a new position in shares of Ingram Micro during the 4th quarter worth about $45,000. Cohen & Steers Inc. acquired a new position in shares of Ingram Micro during the 4th quarter worth about $48,000. Tower Research Capital LLC TRC acquired a new position in shares of Ingram Micro during the 4th quarter worth about $52,000. Cubist Systematic Strategies LLC acquired a new position in shares of Ingram Micro during the 4th quarter worth about $80,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Ingram Micro during the 4th quarter worth about $118,000.

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.