Interpublic Group of Companies (NYSE:IPG) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Interpublic Group of Companies (NYSE:IPG) in a report released on Friday. The firm set a “hold” rating on the business services provider’s stock.

Several other analysts have also recently issued reports on the stock. Macquarie reiterated a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. BNP Paribas cut Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Bank of America decreased their target price on 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. Finally, Barclays dropped their price target on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.71.

Interpublic Group of Companies Price Performance

Shares of NYSE IPG opened at $28.11 on Friday. The stock has a fifty day simple moving average of $29.52 and a two-hundred day simple moving average of $30.22. The firm has a market cap of $10.47 billion, a price-to-earnings ratio of 13.26 and a beta of 1.10. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. Interpublic Group of Companies has a 1-year low of $26.88 and a 1-year high of $35.17.

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

Institutional Trading of Interpublic Group of Companies

Several hedge funds and other institutional investors have recently bought and sold shares of IPG. Allspring Global Investments Holdings LLC lifted its holdings in shares of Interpublic Group of Companies by 14.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 25,188 shares of the business services provider’s stock worth $733,000 after acquiring an additional 3,127 shares during the last quarter. UMB Bank n.a. boosted its position in Interpublic Group of Companies by 4.9% during the second quarter. UMB Bank n.a. now owns 10,081 shares of the business services provider’s stock valued at $293,000 after buying an additional 474 shares during the period. Principal Financial Group Inc. grew its stake in shares of Interpublic Group of Companies by 2.0% during the second quarter. Principal Financial Group Inc. now owns 2,120,076 shares of the business services provider’s stock valued at $61,672,000 after buying an additional 41,939 shares during the last quarter. KCM Investment Advisors LLC grew its stake in shares of Interpublic Group of Companies by 10.3% during the second quarter. KCM Investment Advisors LLC now owns 9,122 shares of the business services provider’s stock valued at $265,000 after buying an additional 850 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its holdings in shares of Interpublic Group of Companies by 8.8% in the second quarter. iA Global Asset Management Inc. now owns 8,122 shares of the business services provider’s stock worth $236,000 after buying an additional 654 shares during the period. Hedge funds and other 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.