Interpublic Group of Companies Coverage Initiated by Analysts at Jefferies Group (IPG)
Research analysts at Jefferies Group began coverage on shares of Interpublic Group of Companies (NYSE:IPG) in a report released on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Shares of Interpublic Group of Companies (NYSE:IPG) traded up 0.57% on Wednesday, hitting $19.46. The stock had a trading volume of 6,479,344 shares. Interpublic Group of Companies has a 1-year low of $14.19 and a 1-year high of $19.77. The stock’s 50-day moving average is $18.76 and its 200-day moving average is $17.49. The company has a market cap of $8.244 billion and a price-to-earnings ratio of 28.00. Interpublic Group of Companies also was the target of a large growth in short interest during the month of June. As of June 13th, there was short interest totalling 15,248,172 shares, a growth of 52.3% from the May 30th total of 10,011,610 shares. Approximately 3.6% of the shares of the company are sold short. Based on an average daily trading volume, of 7,479,960 shares, the days-to-cover ratio is presently 2.0 days.
Interpublic Group of Companies (NYSE:IPG) last released its earnings data on Tuesday, April 22nd. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.08) by $0.03. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company posted ($0.14) earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts expect that Interpublic Group of Companies will post $1.01 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Piper Jaffray raised their price target on shares of Interpublic Group of Companies to $21.00 in a research note on Tuesday, June 10th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Interpublic Group of Companies in a research note on Friday, April 25th. They now have a $18.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Interpublic Group of Companies in a research note on Wednesday, April 23rd. They now have a $20.00 price target on the stock. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $18.80.
The Interpublic Group of Companies, Inc (NYSE:IPG) is a global advertising and marketing services companies.
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