Interpublic Group of Companies (NYSE:IPG) Rating Increased to Overweight at Barclays

Interpublic Group of Companies (NYSE:IPG) was upgraded by investment analysts at Barclays from an “equal weight” rating to an “overweight” rating in a note issued to investors on Friday, Marketbeat reports. The brokerage currently has a $36.00 target price on the business services provider’s stock, up from their previous target price of $32.00. Barclays‘s price objective points to a potential upside of 27.24% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $33.00 in a research note on Tuesday, October 1st. Macquarie reissued a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. StockNews.com initiated coverage on Interpublic Group of Companies in a research note on Monday. They issued a “hold” rating on the stock. Finally, BNP Paribas upgraded Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.00.

Interpublic Group of Companies Price Performance

IPG opened at $28.29 on Friday. The company has a 50 day moving average of $28.75 and a two-hundred day moving average of $30.04. Interpublic Group of Companies has a 52-week low of $26.30 and a 52-week high of $35.17. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The company has a market cap of $10.54 billion, a P/E ratio of 13.35 and a beta of 1.11.

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, hitting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the company earned $0.70 EPS. The firm’s revenue was down 2.9% on a year-over-year basis. On average, analysts expect that Interpublic Group of Companies will post 2.81 earnings per share for the current year.

Institutional Investors Weigh In On Interpublic Group of Companies

Institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. lifted its holdings in Interpublic Group of Companies by 25,637.0% in the fourth quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock worth $207,439,000 after acquiring an additional 7,374,491 shares during the last quarter. State Street Corp raised its position in shares of Interpublic Group of Companies by 15.1% during the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock worth $943,993,000 after purchasing an additional 3,920,975 shares during the period. Millennium Management LLC lifted its holdings in shares of Interpublic Group of Companies by 571.7% in the 2nd quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock worth $42,657,000 after purchasing an additional 1,248,062 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Interpublic Group of Companies by 168.3% during the second quarter. Squarepoint Ops LLC now owns 831,434 shares of the business services provider’s stock valued at $24,186,000 after acquiring an additional 521,546 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Interpublic Group of Companies by 177.3% during the third quarter. SG Americas Securities LLC now owns 705,703 shares of the business services provider’s stock worth $22,321,000 after acquiring an additional 451,205 shares during the last quarter. 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.