Interpublic Group of Companies (NYSE:IPG) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Interpublic Group of Companies (NYSE:IPG) in a research note issued on Thursday. The brokerage set a “hold” rating on the business services provider’s stock.

A number of other equities analysts have also commented on IPG. BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Friday, January 10th. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $26.00 to $34.00 in a research note on Tuesday, December 10th. Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $32.00 to $36.00 in a research note on Friday, January 24th. Macquarie reaffirmed a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and upped their price target for the company from $32.00 to $39.00 in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.50.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock opened at $27.08 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $10.09 billion, a P/E ratio of 12.77 and a beta of 1.11. The business’s fifty day moving average is $28.35 and its two-hundred day moving average is $29.88. Interpublic Group of Companies has a 52 week low of $26.30 and a 52 week high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.04). Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. Equities research analysts forecast that Interpublic Group of Companies will post 2.8 earnings per share for the current fiscal year.

Interpublic Group of Companies declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Interpublic Group of Companies

Several hedge funds have recently added to or reduced their stakes in IPG. Catalyst Capital Advisors LLC acquired a new position in Interpublic Group of Companies in the third quarter valued at about $26,000. Allworth Financial LP increased its holdings in shares of Interpublic Group of Companies by 75.8% in the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after acquiring an additional 480 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Interpublic Group of Companies in the third quarter worth about $32,000. OFI Invest Asset Management bought a new stake in shares of Interpublic Group of Companies in the fourth quarter worth about $36,000. Finally, Brooklyn Investment Group bought a new stake in shares of Interpublic Group of Companies in the third quarter worth about $60,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

About Interpublic Group of Companies

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.