Interpublic Group of Companies (NYSE:IPG) Upgraded by Wells Fargo & Company to “Equal Weight” Rating

Wells Fargo & Company upgraded shares of Interpublic Group of Companies (NYSE:IPG) from an underweight rating to an equal weight rating in a report issued on Tuesday morning, MarketBeat.com reports. They currently have $34.00 target price on the business services provider’s stock, up from their prior target price of $26.00.

A number of other research analysts have also commented on the stock. Barclays decreased their price target on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $36.00 to $33.00 in a research note on Tuesday, October 1st. Bank of America decreased their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. BNP Paribas lowered shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Finally, UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their price target for the company from $34.00 to $29.00 in a research note on Thursday, September 12th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $31.71.

Interpublic Group of Companies Stock Up 0.4 %

Interpublic Group of Companies stock opened at $30.41 on Tuesday. The firm has a market capitalization of $11.33 billion, a PE ratio of 14.34 and a beta of 1.10. The company’s 50-day moving average is $30.12 and its 200-day moving average is $30.40. Interpublic Group of Companies has a fifty-two week low of $26.88 and a fifty-two week high of $35.17. 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 released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, hitting the consensus estimate of $0.70. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. Interpublic Group of Companies’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. Sell-side analysts anticipate that Interpublic Group of Companies will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 62.26%.

Institutional Trading of Interpublic Group of Companies

A number of institutional investors and hedge funds have recently made changes to their positions in IPG. Benjamin Edwards Inc. lifted its holdings in shares of Interpublic Group of Companies by 73.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after acquiring an additional 375 shares during the period. Catalyst Capital Advisors LLC bought a new position in Interpublic Group of Companies in the 3rd quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. lifted its stake in Interpublic Group of Companies by 652.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 900 shares during the last quarter. International Assets Investment Management LLC bought a new position in Interpublic Group of Companies in the 2nd quarter valued at approximately $32,000. Finally, Ashton Thomas Securities LLC bought a new position in Interpublic Group of Companies in the 3rd quarter valued at approximately $32,000. Institutional investors 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.