Interpublic Group of Companies Rating Reiterated by JPMorgan Chase & Co. (IPG)
Interpublic Group of Companies (NYSE:IPG)‘s stock had its “overweight” rating restated by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Tuesday. They currently have a $23.00 price objective on the stock, up from their previous price objective of $20.00. JPMorgan Chase & Co.’s target price points to a potential upside of 19.17% from the company’s current price.
Shares of Interpublic Group of Companies (NYSE:IPG) traded down 1.40% on Tuesday, hitting $19.03. The stock had a trading volume of 1,462,283 shares. Interpublic Group of Companies has a 52 week low of $15.17 and a 52 week high of $19.77. The stock has a 50-day moving average of $19.24 and a 200-day moving average of $17.66. The company has a market cap of $8.062 billion and a price-to-earnings ratio of 27.93. Interpublic Group of Companies also was the recipient of a large growth in short interest in 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. Based on an average trading volume of 7,479,960 shares, the short-interest ratio is currently 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) 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. On average, analysts predict that Interpublic Group of Companies will post $1.01 earnings per share for the current fiscal year.
IPG has been the subject of a number of other 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.40.
The Interpublic Group of Companies, Inc (NYSE:IPG) is a global advertising and marketing services companies.
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