Ingram Micro (NYSE:INGM) Given New $20.00 Price Target at JPMorgan Chase & Co.

Ingram Micro (NYSE:INGM) had its target price trimmed by JPMorgan Chase & Co. from $26.00 to $20.00 in a research report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also recently weighed in on the company. Jefferies Financial Group lowered their price objective on Ingram Micro from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Evercore ISI dropped their price target on Ingram Micro from $27.00 to $26.00 and set an “in-line” rating on the stock in a research note on Wednesday, March 5th. Royal Bank of Canada increased their price objective on shares of Ingram Micro from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Loop Capital cut their price target on shares of Ingram Micro from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, Bank of America decreased their price target on shares of Ingram Micro from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.21.

Ingram Micro Trading Up 0.8 %

INGM opened at $16.16 on Thursday. The company has a 50-day moving average of $19.34. Ingram Micro has a 1 year low of $14.25 and a 1 year high of $25.69. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40.

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

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

Ingram Micro Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were issued a dividend of $0.074 per share. This represents a $0.30 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Tuesday, March 11th.

Institutional Investors Weigh In On Ingram Micro

A number of hedge funds and other institutional investors have recently made changes to their positions in INGM. Capital World Investors purchased a new stake in Ingram Micro during the fourth quarter worth $68,295,000. Victory Capital Management Inc. purchased a new stake in shares of Ingram Micro during the 4th quarter worth about $53,532,000. JPMorgan Chase & Co. acquired a new stake in shares of Ingram Micro during the 4th quarter valued at about $37,793,000. American Century Companies Inc. purchased a new position in shares of Ingram Micro in the 4th quarter valued at about $36,268,000. Finally, Ameriprise Financial Inc. acquired a new position in Ingram Micro in the 4th quarter worth about $30,683,000.

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.