Interpublic Group of Companies (NYSE:IPG) Upgraded to “Hold” at StockNews.com

Interpublic Group of Companies (NYSE:IPG) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

IPG has been the subject of a number of other reports. Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $34.00 to $28.00 in a report on Monday, July 22nd. Bank of America dropped their target price on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Barclays dropped their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their target price for the company from $34.00 to $29.00 in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $36.00 to $33.00 in a research note on Tuesday, October 1st. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $30.57.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $29.95 on Thursday. Interpublic Group of Companies has a fifty-two week low of $27.84 and a fifty-two week high of $35.17. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 4.97 and a beta of 1.09. The business has a fifty day moving average of $31.25 and a 200-day moving average of $30.71. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a return on equity of 27.51% and a net margin of 7.44%. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the firm posted $0.70 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, analysts predict that Interpublic Group of Companies will post 2.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Interpublic Group of Companies

A number of institutional investors have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. boosted 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 buying an additional 375 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of Interpublic Group of Companies in the third quarter worth about $26,000. Hazlett Burt & Watson Inc. boosted its position in shares of Interpublic Group of Companies by 652.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after buying an additional 900 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Interpublic Group of Companies in the second quarter worth about $32,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Interpublic Group of Companies by 52.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock worth $38,000 after buying an additional 405 shares during the period. Hedge funds and other institutional investors own 98.43% of the company’s stock.

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.