Ingram Micro (NYSE:INGM) Given New $26.00 Price Target at JPMorgan Chase & Co.

Ingram Micro (NYSE:INGM) had its price objective decreased by JPMorgan Chase & Co. from $27.00 to $26.00 in a report issued on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

INGM has been the topic of a number of other reports. Evercore ISI decreased their price target on Ingram Micro from $27.00 to $26.00 and set an “in-line” rating on the stock in a report on Wednesday. Northcoast Research started coverage on Ingram Micro in a research report on Friday, November 8th. They set a “neutral” rating for the company. 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 research report on Wednesday. Bank of America started coverage on Ingram Micro in a research report on Monday, November 18th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Loop Capital started coverage on Ingram Micro in a research report on Monday, November 18th. They set a “buy” rating and a $30.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Ingram Micro currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.29.

Ingram Micro Price Performance

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 firm’s 50-day simple moving average is $21.97. Ingram Micro has a 52 week low of $18.90 and a 52 week high of $25.69.

Ingram Micro (NYSE:INGM) last posted its quarterly 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 business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $13.21 billion. As a group, analysts expect that Ingram Micro will post 2.71 EPS for the current fiscal year.

Ingram Micro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid 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 announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 4th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Ingram Micro

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in Ingram Micro in the fourth quarter worth about $17,432,000. New York State Common Retirement Fund bought a new stake in Ingram Micro in the fourth quarter worth about $304,000. CenterBook Partners LP bought a new stake in Ingram Micro in the fourth quarter worth about $1,224,000. Wellington Management Group LLP bought a new stake in Ingram Micro in the fourth quarter worth about $26,969,000. Finally, JPMorgan Chase & Co. bought a new stake in Ingram Micro in the fourth quarter worth about $37,793,000.

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.