Interpublic Group of Companies (NYSE:IPG) Price Target Cut to $35.00

Interpublic Group of Companies (NYSE:IPG) had its price target lowered by investment analysts at Bank of America from $36.00 to $35.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Bank of America‘s price target would indicate a potential upside of 12.54% from the company’s previous close.

Several other analysts also recently weighed in on the company. Barclays dropped their price target on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. JPMorgan Chase & Co. cut their price target on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Morgan Stanley cut shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $34.00 to $28.00 in a research note on Monday, July 22nd. Finally, Macquarie cut their price objective on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $33.88.

Interpublic Group of Companies Price Performance

IPG opened at $31.10 on Thursday. The firm has a market capitalization of $11.74 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06. The business’s 50-day moving average is $30.53 and its two-hundred day moving average is $31.03. Interpublic Group of Companies has a 1 year low of $27.20 and a 1 year high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Research analysts anticipate that Interpublic Group of Companies will post 2.82 earnings per share for the current fiscal year.

Institutional Trading of Interpublic Group of Companies

Hedge funds have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its position in shares of Interpublic Group of Companies by 73.8% in the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after acquiring an additional 375 shares during the period. Hazlett Burt & Watson Inc. grew its position in shares of Interpublic Group of Companies by 652.2% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 900 shares during the period. Voisard Asset Management Group Inc. purchased a new position in shares of Interpublic Group of Companies in the 4th quarter valued at about $31,000. International Assets Investment Management LLC acquired a new position in Interpublic Group of Companies in the 2nd quarter worth about $32,000. Finally, EverSource Wealth Advisors LLC boosted its position in 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 worth $38,000 after purchasing an additional 405 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

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.