Interpublic Group of Companies (NYSE:IPG) Upgraded by UBS Group to Neutral Rating

Interpublic Group of Companies (NYSE:IPG) was upgraded by equities researchers at UBS Group from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a $27.00 price objective on the business services provider’s stock, down from their prior price objective of $29.00. UBS Group’s target price points to a potential downside of 0.30% from the company’s previous close.

Several other brokerages have also recently commented on IPG. StockNews.com began coverage on Interpublic Group of Companies in a report on Thursday. They set a “hold” rating on the stock. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $32.00 to $39.00 in a report on Monday, January 27th. BNP Paribas upgraded 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, January 10th. Macquarie reiterated a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Interpublic Group of Companies has a consensus rating of “Hold” and an average price target of $33.50.

Interpublic Group of Companies Stock Performance

Shares of NYSE:IPG opened at $27.08 on Thursday. The business’s fifty day moving average price is $28.35 and its two-hundred day moving average price is $29.88. Interpublic Group of Companies has a fifty-two week low of $26.30 and a fifty-two week high of $35.17. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of 12.77 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 (NYSE:IPG) last announced its earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing the consensus estimate 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%. As a group, analysts predict that Interpublic Group of Companies will post 2.8 EPS 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 lifted its stake in 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 valued at $31,000 after buying an additional 480 shares during the period. Ashton Thomas Securities LLC acquired a new position in Interpublic Group of Companies in the third quarter valued at about $32,000. OFI Invest Asset Management acquired a new position in Interpublic Group of Companies in the fourth quarter valued at about $36,000. Finally, Brooklyn Investment Group acquired a new position in Interpublic Group of Companies in the third quarter valued at about $60,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

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.