StockNews.com Initiates Coverage on Interpublic Group of Companies (NYSE:IPG)

Stock analysts at StockNews.com initiated coverage on shares of Interpublic Group of Companies (NYSE:IPG) in a report released on Sunday. The brokerage set a “hold” rating on the business services provider’s stock.

IPG has been the topic of several other research reports. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price on the stock in a report on Friday. JPMorgan Chase & Co. cut Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $36.00 to $33.00 in a research note on Tuesday, October 1st. Barclays lowered their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Macquarie reissued a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.50.

Interpublic Group of Companies Stock Performance

Shares of NYSE:IPG opened at $26.86 on Friday. The business has a 50-day moving average of $29.01 and a two-hundred day moving average of $30.09. The firm has a market capitalization of $10.01 billion, a PE ratio of 12.67 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. Interpublic Group of Companies has a 12 month low of $26.30 and a 12 month high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.70. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. As a group, research analysts forecast that Interpublic Group of Companies will post 2.81 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IPG. Rosenberg Matthew Hamilton raised its stake in shares of Interpublic Group of Companies by 9.7% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 4,136 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 365 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in Interpublic Group of Companies by 73.8% in the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock valued at $26,000 after buying an additional 375 shares during the last quarter. Ballentine Partners LLC raised its stake in Interpublic Group of Companies by 2.9% during the third quarter. Ballentine Partners LLC now owns 14,058 shares of the business services provider’s stock valued at $445,000 after buying an additional 399 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Interpublic Group of Companies by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock worth $38,000 after buying an additional 405 shares during the last quarter. Finally, Empirical Finance LLC grew its position in shares of Interpublic Group of Companies by 1.3% in the 3rd quarter. Empirical Finance LLC now owns 32,609 shares of the business services provider’s stock worth $1,031,000 after acquiring an additional 409 shares in the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Company Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.