Interpublic Group of Companies (NYSE:IPG) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies (NYSE:IPG) from a neutral rating to an overweight rating in a research note published on Monday morning, Marketbeat.com reports. They currently have $39.00 target price on the business services provider’s stock, up from their previous target price of $32.00.

Several other equities research analysts also recently weighed in on the stock. BNP Paribas raised shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research note on Friday, January 10th. StockNews.com initiated coverage on Interpublic Group of Companies in a research report on Monday, January 20th. They set a “hold” rating on the stock. Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $32.00 to $36.00 in a report on Friday, January 24th. Macquarie restated a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.75.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $28.84 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $10.74 billion, a P/E ratio of 13.60 and a beta of 1.11. The stock has a 50-day moving average of $28.82 and a two-hundred day moving average of $30.05. Interpublic Group of Companies has a 1-year low of $26.30 and a 1-year high of $35.17.

Hedge Funds Weigh In On Interpublic Group of Companies

Hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its holdings in shares of Interpublic Group of Companies by 25,637.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock valued at $207,439,000 after buying an additional 7,374,491 shares in the last quarter. State Street Corp lifted its position in Interpublic Group of Companies by 15.1% in the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after acquiring an additional 3,920,975 shares during the last quarter. Millennium Management LLC boosted its stake in Interpublic Group of Companies by 571.7% in the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock valued at $42,657,000 after acquiring an additional 1,248,062 shares in the last quarter. SG Americas Securities LLC grew its holdings 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 purchasing an additional 451,205 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Interpublic Group of Companies by 44.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,356,021 shares of the business services provider’s stock worth $39,447,000 after purchasing an additional 417,766 shares in the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

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.