Interpublic Group of Companies (NYSE:IPG) Rating Reiterated by Wells Fargo & Company

Interpublic Group of Companies (NYSE:IPG - Get Free Report)'s stock had its "underweight" rating reaffirmed by analysts at Wells Fargo & Company in a report released on Tuesday, Benzinga reports. They currently have a $26.00 target price on the business services provider's stock, down from their previous target price of $28.00. Wells Fargo & Company's price objective suggests a potential downside of 12.68% from the stock's previous close.

A number of other equities analysts have also recently issued reports on IPG. Barclays dropped their price objective on Interpublic Group of Companies from $34.00 to $32.50 and set an "equal weight" rating for the company in a report on Wednesday, October 2nd. Morgan Stanley cut Interpublic Group of Companies from an "equal weight" rating to an "underweight" rating and dropped their price objective for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. BNP Paribas lowered Interpublic Group of Companies from a "neutral" rating to an "underperform" rating in a research report on Monday, September 30th. JPMorgan Chase & Co. cut Interpublic Group of Companies from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $36.00 to $33.00 in a report on Tuesday, October 1st. Finally, UBS Group downgraded shares of Interpublic Group of Companies from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $34.00 to $29.00 in a research note on Thursday, September 12th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $31.81.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock traded down $1.85 during mid-day trading on Tuesday, reaching $29.78. 9,295,285 shares of the company's stock traded hands, compared to its average volume of 3,935,047. Interpublic Group of Companies has a 12-month low of $27.53 and a 12-month high of $35.17. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75. The stock has a 50 day moving average of $31.41 and a two-hundred day moving average of $30.76. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 5.18 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.70. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The company's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. Equities analysts forecast that Interpublic Group of Companies will post 2.83 earnings per share for the current year.

Institutional Investors Weigh In On Interpublic Group of Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. lifted its position in Interpublic Group of Companies by 73.8% during the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider's stock worth $26,000 after buying an additional 375 shares in the last quarter. Hazlett Burt & Watson Inc. raised its holdings in Interpublic Group of Companies by 652.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider's stock valued at $30,000 after buying an additional 900 shares during the period. International Assets Investment Management LLC acquired a new position in Interpublic Group of Companies in the second quarter valued at about $32,000. EverSource Wealth Advisors LLC increased its position in shares of Interpublic Group of Companies by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider's stock valued at $38,000 after acquiring an additional 405 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Interpublic Group of Companies in the 1st quarter valued at approximately $42,000. 98.43% of the stock is owned by institutional investors and hedge funds.

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.

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