Ingram Micro (NYSE:INGM) Reaches New 1-Year Low – Time to Sell?

Ingram Micro Holding Corp. (NYSE:INGM)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $16.86 and last traded at $16.93, with a volume of 113635 shares changing hands. The stock had previously closed at $18.28.

Analyst Ratings Changes

Several equities research analysts recently commented on INGM shares. Raymond James dropped their target price on Ingram Micro from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Morgan Stanley cut their price objective on Ingram Micro from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price target on Ingram Micro from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Jefferies Financial Group dropped their target price on shares of Ingram Micro from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Finally, The Goldman Sachs Group dropped their price target on shares of Ingram Micro from $33.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Ingram Micro currently has an average rating of “Moderate Buy” and a consensus target price of $26.64.

Ingram Micro Stock Down 7.2 %

The firm has a fifty day moving average of $21.08. 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 (NYSE:INGM) last posted 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 for the quarter, compared to analyst estimates of $13.21 billion. Research analysts anticipate that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a $0.074 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Tuesday, March 11th.

Ingram Micro announced that its Board of Directors has initiated a share buyback plan on Tuesday, March 4th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Ingram Micro

A number of institutional investors have recently bought and sold shares of INGM. Rhumbline Advisers acquired a new stake in shares of Ingram Micro in the fourth quarter valued at approximately $171,000. Allspring Global Investments Holdings LLC bought a new position in Ingram Micro in the fourth quarter valued at approximately $17,432,000. New York State Common Retirement Fund bought a new stake in Ingram Micro during the fourth quarter worth $304,000. Burkehill Global Management LP acquired a new stake in Ingram Micro in the fourth quarter valued at approximately $5,526,000. Finally, Keybank National Association OH acquired a new position in shares of Ingram Micro during the fourth quarter worth $319,000.

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.