Interpublic Group of Companies (NYSE:IPG) had its target price raised by equities research analysts at Citigroup from $27.00 to $28.00 in a report issued on Friday, October 19th, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Citigroup’s price target suggests a potential upside of 21.05% from the company’s current price.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. ValuEngine cut Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Pivotal Research lowered their target price on Interpublic Group of Companies from $25.00 to $23.00 and set a “hold” rating on the stock in a report on Tuesday, July 3rd. Morgan Stanley reissued an “equal weight” rating and issued a $24.00 target price on shares of Interpublic Group of Companies in a report on Monday, October 15th. Finally, JPMorgan Chase & Co. assumed coverage on Interpublic Group of Companies in a report on Thursday, October 11th. They issued an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Interpublic Group of Companies currently has an average rating of “Hold” and an average target price of $25.56.
Shares of Interpublic Group of Companies stock traded up $0.33 during midday trading on Friday, reaching $23.13. 5,453,300 shares of the company’s stock traded hands, compared to its average volume of 4,707,138. The company has a market cap of $8.76 billion, a PE ratio of 16.40, a P/E/G ratio of 1.76 and a beta of 1.07. Interpublic Group of Companies has a 12 month low of $18.30 and a 12 month high of $26.01. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.50.
Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Friday, October 19th. The business services provider reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Interpublic Group of Companies had a return on equity of 30.99% and a net margin of 6.62%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, research analysts anticipate that Interpublic Group of Companies will post 1.74 earnings per share for the current year.
In other Interpublic Group of Companies news, Director Jocelyn Carter-Miller sold 8,735 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $23.24, for a total transaction of $203,001.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Frank Mergenthaler sold 50,000 shares of Interpublic Group of Companies stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $22.46, for a total value of $1,123,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 63,735 shares of company stock valued at $1,443,501 in the last 90 days. 1.32% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of IPG. NuWave Investment Management LLC raised its position in Interpublic Group of Companies by 117.3% during the 3rd quarter. NuWave Investment Management LLC now owns 5,654 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 3,052 shares in the last quarter. LifePlan Financial Group Inc bought a new stake in Interpublic Group of Companies during the 2nd quarter valued at $187,000. Lourd Capital LLC bought a new stake in Interpublic Group of Companies during the 3rd quarter valued at $203,000. Round Table Services LLC bought a new stake in Interpublic Group of Companies during the 3rd quarter valued at $203,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in Interpublic Group of Companies during the 2nd quarter valued at $283,000. 99.65% of the stock is owned by hedge funds and other institutional investors.
Interpublic Group of Companies Company Profile
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.
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