Ingram Micro (NYSE:INGM) Given New $26.00 Price Target at Morgan Stanley

Ingram Micro (NYSE:INGM) had its price target decreased by Morgan Stanley from $27.00 to $26.00 in a research note released on Wednesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. assumed coverage on Ingram Micro in a research report on Wednesday, November 20th. They set a “neutral” rating and a $28.00 price target on the stock. Royal Bank of Canada lifted their target price on Ingram Micro from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Melius Research raised Ingram Micro to a “hold” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group assumed coverage on Ingram Micro in a research report on Monday, November 18th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, Melius assumed coverage on Ingram Micro in a research report on Tuesday, November 26th. They issued a “hold” rating and a $26.00 target price on the stock. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.29.

Ingram Micro Stock Down 5.5 %

NYSE INGM opened at $19.84 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93. The stock’s 50-day simple moving average is $21.97. Ingram Micro has a one year low of $18.90 and a one year high of $25.69.

Ingram Micro (NYSE:INGM) last released its quarterly earnings results 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. On average, equities research analysts forecast that Ingram Micro will post 2.71 EPS for the current year.

Ingram Micro declared that its Board of Directors has approved a stock buyback program on Tuesday, March 4th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Ingram Micro Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in INGM. Wells Fargo & Company MN bought a new position in shares of Ingram Micro during the 4th quarter worth approximately $45,000. Cohen & Steers Inc. bought a new stake in Ingram Micro in the 4th quarter valued at $48,000. Tower Research Capital LLC TRC bought a new stake in Ingram Micro in the 4th quarter valued at $52,000. Cubist Systematic Strategies LLC bought a new stake in Ingram Micro in the 4th quarter valued at $80,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Ingram Micro in the 4th quarter valued at $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.