Interpublic Group of Companies Given New $21.00 Price Target at RBC Capital (IPG)
RBC Capital boosted their target price on shares of Interpublic Group of Companies (NYSE:IPG) from $19.00 to $21.00 in a research note issued on Wednesday. The firm currently has an “outperform” rating on the stock. RBC Capital’s price objective would indicate a potential upside of 7.75% from the stock’s previous close.
Interpublic Group of Companies (NYSE:IPG) opened at 19.49 on Wednesday. Interpublic Group of Companies has a 52-week low of $14.60 and a 52-week high of $19.77. The stock has a 50-day moving average of $19.06 and a 200-day moving average of $17.59. The company has a market cap of $8.257 billion and a price-to-earnings ratio of 28.23. Interpublic Group of Companies also saw a significant increase in short interest in the month of June. As of June 13th, there was short interest totalling 15,248,172 shares, an increase of 52.3% from the May 30th total of 10,011,610 shares. Based on an average daily volume of 7,479,960 shares, the days-to-cover ratio is presently 2.0 days. Approximately 3.6% of the shares of the company are sold short.
Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported ($0.05) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.14) earnings per share. Interpublic Group of Companies’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Interpublic Group of Companies will post $1.01 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group initiated coverage on shares of Interpublic Group of Companies in a research note on Wednesday, June 25th. They set a “buy” rating on the stock. Separately, 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. Finally, 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. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Interpublic Group of Companies has a consensus rating of “Buy” and a consensus price target of $19.10.
The Interpublic Group of Companies, Inc (NYSE:IPG) is a global advertising and marketing services companies.
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