Interpublic Group of Companies (NYSE:IPG) Shares Down 4.3% - Here's Why

The Interpublic Group of Companies, Inc. (NYSE:IPG - Get Free Report) shares fell 4.3% during mid-day trading on Wednesday . The company traded as low as $27.29 and last traded at $27.55. 2,883,484 shares were traded during trading, a decline of 36% from the average session volume of 4,500,520 shares. The stock had previously closed at $28.80.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. Barclays upgraded shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $32.00 to $36.00 in a research note on Friday, January 24th. Macquarie restated a "neutral" rating and set a $31.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. StockNews.com began coverage on Interpublic Group of Companies in a research report on Wednesday. They issued a "hold" rating for the company. Finally, BNP Paribas upgraded shares of Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 price target on the stock in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $33.75.

Interpublic Group of Companies Stock Down 0.9 %

The firm has a market cap of $10.24 billion, a P/E ratio of 12.96 and a beta of 1.11. The stock's fifty day moving average is $28.56 and its two-hundred day moving average is $29.96. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. State Street Corp boosted its holdings 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 valued at $943,993,000 after buying an additional 3,920,975 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in Interpublic Group of Companies by 240.9% during the third quarter. Integrated Wealth Concepts LLC now owns 28,862 shares of the business services provider's stock valued at $913,000 after acquiring an additional 20,395 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Interpublic Group of Companies by 2,679.9% in the 3rd quarter. International Assets Investment Management LLC now owns 30,523 shares of the business services provider's stock worth $965,000 after purchasing an additional 29,425 shares during the period. ING Groep NV bought a new stake in shares of Interpublic Group of Companies during the 3rd quarter valued at $1,589,000. Finally, Bridgewater Associates LP grew its holdings in Interpublic Group of Companies by 956.5% during the third quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider's stock valued at $3,313,000 after purchasing an additional 94,821 shares during the period. Hedge funds and other institutional investors own 98.43% of the company's stock.

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.