Short Interest in Interpublic Group of Companies Grows By 52.3% (IPG)
Interpublic Group of Companies (NYSE:IPG) was the target of a large growth in short interest in 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, Analyst RN reports. Currently, 3.6% of the company’s shares are sold short. Based on an average daily volume of 7,479,960 shares, the days-to-cover ratio is currently 2.0 days.
IPG has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of Interpublic Group of Companies from $19.00 to $21.00 in a research note on Wednesday, July 2nd. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $19.10.
Shares of Interpublic Group of Companies (NYSE:IPG) opened at 19.39 on Monday. Interpublic Group of Companies has a 1-year low of $14.83 and a 1-year high of $19.77. The stock has a 50-day moving average of $19.15 and a 200-day moving average of $17.62. The company has a market cap of $8.215 billion and a price-to-earnings ratio of 28.05.
Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results 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. Analysts expect that Interpublic Group of Companies will post $1.01 EPS for the current fiscal year.
The Interpublic Group of Companies, Inc (NYSE:IPG) is a global advertising and marketing services companies.
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