Interpublic Group of Companies Short Interest Down 18.0% in July (IPG)
Shares of Interpublic Group of Companies (NYSE:IPG) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 12,585,561 shares, a decrease of 18.0% from the June 30th total of 15,340,048 shares, Stock Ratings Network reports. Currently, 3.0% of the company’s stock are sold short. Based on an average trading volume of 7,332,711 shares, the short-interest ratio is presently 1.7 days.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. initiated coverage on shares of Interpublic Group of Companies in a research note on Monday, July 28th. They set a “neutral” rating on the stock. Separately, analysts at Atlantic Securities downgraded shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating in a research note on Friday, July 25th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Interpublic Group of Companies in a research note on Tuesday, July 22nd. They now have a $21.00 price target on the stock. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $20.67.
Shares of Interpublic Group of Companies (NYSE:IPG) opened at 19.78 on Tuesday. Interpublic Group of Companies has a 52-week low of $15.28 and a 52-week high of $20.64. The stock’s 50-day moving average is $19.56 and its 200-day moving average is $17.. The company has a market cap of $8.335 billion and a price-to-earnings ratio of 26.69.
Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results 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 $1.00 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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