Ingram Micro (NYSE:INGM) Price Target Cut to $26.00 by Analysts at Morgan Stanley

Ingram Micro (NYSE:INGM) had its price objective trimmed by Morgan Stanley from $27.00 to $26.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also issued reports on INGM. Redburn Atlantic started coverage on Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $30.00 price objective for the company. Stifel Nicolaus started coverage on Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $28.00 price objective for the company. Raymond James started coverage on Ingram Micro in a research note on Monday, November 18th. They set an “outperform” rating and a $28.00 price objective for the company. Melius Research upgraded Ingram Micro to a “hold” rating in a research note on Tuesday, November 26th. Finally, Bank of America initiated coverage on Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $30.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.29.

Ingram Micro Stock Performance

Shares of NYSE INGM opened at $19.84 on Wednesday. The company has a fifty day moving average price of $21.97. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. Ingram Micro has a one year low of $18.90 and a one year high of $25.69.

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

Ingram Micro Dividend Announcement

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

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

Hedge Funds Weigh In On Ingram Micro

Several hedge funds have recently added to or reduced their stakes in INGM. Wells Fargo & Company MN bought a new position in Ingram Micro during the fourth quarter worth about $45,000. Cohen & Steers Inc. bought a new position in Ingram Micro during the fourth quarter worth about $48,000. Tower Research Capital LLC TRC bought a new position in Ingram Micro during the fourth quarter worth about $52,000. Cubist Systematic Strategies LLC bought a new position in Ingram Micro during the fourth quarter worth about $80,000. Finally, Public Employees Retirement System of Ohio bought a new position in Ingram Micro during the fourth quarter worth about $118,000.

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.