Ingram Micro (NYSE:INGM) Cut to Buy at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of Ingram Micro (NYSE:INGM – Free Report) from a strong-buy rating to a buy rating in a research report released on Sunday.

Several other research analysts have also weighed in on the stock. Raymond James Financial restated an “outperform” rating and set a $34.00 target price on shares of Ingram Micro in a research report on Friday, May 1st. Evercore set a $26.00 price target on shares of Ingram Micro in a research report on Monday, April 20th. JPMorgan Chase & Co. raised Ingram Micro from an “underweight” rating to a “neutral” rating and set a $27.00 price target on the stock in a research note on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $33.00 price objective on shares of Ingram Micro in a research note on Friday, July 31st. Finally, Zacks Research raised Ingram Micro from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

View Our Latest Analysis on Ingram Micro

Ingram Micro Price Performance

Ingram Micro stock opened at $27.84 on Friday. The company has a market cap of $6.42 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 0.70 and a beta of 1.75. Ingram Micro has a one year low of $18.77 and a one year high of $31.69. The business has a fifty day moving average of $28.43 and a two-hundred day moving average of $26.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 1.31.

Ingram Micro (NYSE:INGM – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. The business had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $13.85 billion. Ingram Micro had a net margin of 0.77% and a return on equity of 18.07%. Ingram Micro has set its Q3 2026 guidance at 0.720-0.820 EPS. As a group, analysts predict that Ingram Micro will post 3.37 earnings per share for the current fiscal year.

Ingram Micro Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th will be given a dividend of $0.086 per share. The ex-dividend date is Tuesday, August 11th. This is an increase from Ingram Micro’s previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a yield of 1.2%. Ingram Micro’s dividend payout ratio (DPR) is presently 18.58%.

Insider Activity

In related news, VP Augusto Aragone sold 10,000 shares of Ingram Micro stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, the vice president directly owned 140,465 shares in the company, valued at $4,213,950. The trade was a 6.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Platinum Equity, Llc sold 5,167,069 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $29.03, for a total value of $150,000,013.07. Following the sale, the insider owned 177,466,319 shares in the company, valued at approximately $5,151,847,240.57. This trade represents a 2.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 5,227,069 shares of company stock worth $151,765,013 in the last ninety days. Insiders own 0.95% of the company’s stock.

Institutional Trading of Ingram Micro

Several institutional investors and hedge funds have recently made changes to their positions in INGM. Royal Bank of Canada increased its position in Ingram Micro by 252.2% during the 1st quarter. Royal Bank of Canada now owns 1,472 shares of the company’s stock worth $34,000 after purchasing an additional 1,054 shares in the last quarter. Allworth Financial LP acquired a new position in Ingram Micro in the 2nd quarter valued at about $35,000. Meeder Asset Management Inc. purchased a new position in Ingram Micro in the 2nd quarter valued at about $44,000. Comerica Bank lifted its holdings in Ingram Micro by 2,844.2% in the 3rd quarter. Comerica Bank now owns 3,798 shares of the company’s stock valued at $82,000 after purchasing an additional 3,669 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Ingram Micro by 20.5% during the 4th quarter. CWM LLC now owns 4,144 shares of the company’s stock worth $88,000 after purchasing an additional 705 shares during the last quarter.

Ingram Micro Company Profile

(Get Free Report)

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro’s end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company’s offerings are organized across several core areas.

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