Atlantic Securities Downgrades Interpublic Group of Companies to Neutral (IPG)
Interpublic Group of Companies (NYSE:IPG) was downgraded by stock analysts at Atlantic Securities from an “overweight” rating to a “neutral” rating in a report issued on Friday, TheFlyOnTheWall.com reports.
A number of other firms have also recently commented on IPG. Analysts at Zacks reiterated a “neutral” rating on shares of Interpublic Group of Companies in a research note on Tuesday. They now have a $21.00 price target on the stock. Separately, analysts at Macquarie reiterated an “outperform” rating on shares of Interpublic Group of Companies in a research note on Monday, July 21st. They now have a $23.00 price target on the stock, up previously from $21.00. Finally, analysts at Wedbush raised their price target on shares of Interpublic Group of Companies from $20.00 to $23.00 in a research note on Monday, July 21st. They now have an “outperform” rating on the stock. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $20.67.
Shares of Interpublic Group of Companies (NYSE:IPG) opened at 19.99 on Friday. Interpublic Group of Companies has a 52 week low of $15.28 and a 52 week high of $20.37. The stock has a 50-day moving average of $19.49 and a 200-day moving average of $17.86. The company has a market cap of $8.469 billion and a price-to-earnings ratio of 27.53. Interpublic Group of Companies also was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 12,585,561 shares, a drop of 18.0% from the June 30th total of 15,340,048 shares. Based on an average trading volume of 7,332,711 shares, the short-interest ratio is currently 1.7 days. Approximately 3.0% of the shares of the company are sold short.
Interpublic Group of Companies (NYSE:IPG) last released its earnings data on Friday, July 18th. The company reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. 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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