Investment analysts at StockNews.com began coverage on shares of Interpublic Group of Companies (NYSE:IPG - Get Free Report) in a note issued to investors on Thursday. The brokerage set a "hold" rating on the business services provider's stock.
IPG has been the subject of a number of other reports. Barclays raised shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $32.00 to $36.00 in a report on Friday, January 24th. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $32.00 to $39.00 in a research note on Monday, January 27th. Macquarie reissued a "neutral" rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. BNP Paribas raised shares of 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. Finally, Wells Fargo & Company raised shares of Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $33.50.
Read Our Latest Research Report on Interpublic Group of Companies
Interpublic Group of Companies Price Performance
Interpublic Group of Companies stock traded up $0.12 during mid-day trading on Thursday, reaching $27.08. The company had a trading volume of 5,974,636 shares, compared to its average volume of 4,899,489. Interpublic Group of Companies has a 1 year low of $26.30 and a 1 year 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. The company has a market capitalization of $10.09 billion, a P/E ratio of 12.77 and a beta of 1.11. The stock's 50-day simple moving average is $28.30 and its 200-day simple moving average is $29.82.
Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. On average, equities analysts predict that Interpublic Group of Companies will post 2.8 EPS for the current year.
Interpublic Group of Companies announced that its board has approved a stock buyback program on Wednesday, February 12th that permits the company to repurchase $155.00 million in shares. This repurchase authorization permits the business services provider to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.
Institutional Trading of Interpublic Group of Companies
Several hedge funds and other institutional investors have recently bought and sold shares of IPG. Catalyst Capital Advisors LLC purchased a new stake in Interpublic Group of Companies in the 3rd quarter worth approximately $26,000. Allworth Financial LP boosted its holdings in shares of Interpublic Group of Companies by 75.8% in the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock valued at $31,000 after purchasing an additional 480 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Interpublic Group of Companies in the 3rd quarter valued at $32,000. OFI Invest Asset Management acquired a new position in shares of Interpublic Group of Companies in the 4th quarter valued at $36,000. Finally, Brooklyn Investment Group acquired a new position in shares of Interpublic Group of Companies in the 3rd quarter valued at $60,000. 98.43% of the stock is owned by hedge funds and other institutional investors.
About Interpublic Group of Companies
(
Get Free Report)
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.
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