Ingram Micro (NYSE:INGM) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Ingram Micro (NYSE:INGM) released its quarterly earnings data on Monday. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06, FiscalAI reports. Ingram Micro had a return on equity of 17.03% and a net margin of 0.57%.The firm had revenue of $14.88 billion during the quarter, compared to analyst estimates of $14.18 billion.

Ingram Micro Stock Performance

Shares of INGM stock traded up $0.63 on Monday, hitting $21.32. The company had a trading volume of 1,016,823 shares, compared to its average volume of 419,623. Ingram Micro has a twelve month low of $14.25 and a twelve month high of $23.93. The company has a quick ratio of 0.95, a current ratio of 1.41 and a debt-to-equity ratio of 0.75. The firm has a market cap of $5.01 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 0.74 and a beta of 2.27. The company has a 50-day moving average price of $21.35 and a 200-day moving average price of $21.20.

Analyst Upgrades and Downgrades

Several research analysts have commented on INGM shares. The Goldman Sachs Group downgraded shares of Ingram Micro from a “strong-buy” rating to a “neutral” rating and set a $24.00 price objective for the company. in a report on Tuesday, January 13th. Wall Street Zen raised shares of Ingram Micro from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Morgan Stanley reduced their price target on shares of Ingram Micro from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. Royal Bank Of Canada restated an “outperform” rating and set a $24.00 price target on shares of Ingram Micro in a research note on Monday, December 22nd. Finally, Zacks Research raised Ingram Micro from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $24.44.

Hedge Funds Weigh In On Ingram Micro

Several institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. grew its holdings in Ingram Micro by 27.5% in the fourth quarter. Victory Capital Management Inc. now owns 3,126,480 shares of the company’s stock valued at $66,719,000 after purchasing an additional 673,840 shares during the period. Wellington Management Group LLP boosted its stake in Ingram Micro by 26.4% during the 4th quarter. Wellington Management Group LLP now owns 2,663,257 shares of the company’s stock worth $56,834,000 after purchasing an additional 556,931 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Ingram Micro by 157.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 789,266 shares of the company’s stock valued at $16,843,000 after acquiring an additional 482,723 shares during the last quarter. Norges Bank purchased a new position in shares of Ingram Micro during the 4th quarter worth $8,536,000. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in Ingram Micro in the 3rd quarter valued at about $6,839,000.

About Ingram Micro

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.