Interpublic Group of Companies (IPG) Downgraded by Wells Fargo & Co

Interpublic Group of Companies (NYSE:IPG) was downgraded by research analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research report issued on Thursday, MarketBeat.com reports. They currently have a $23.00 price objective on the business services provider’s stock. Wells Fargo & Co’s target price indicates a potential upside of 7.73% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Jefferies Group cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, December 13th. TheStreet cut shares of Interpublic Group of Companies from a “b-” rating to a “c+” rating in a research report on Wednesday, November 22nd. Royal Bank of Canada reaffirmed a “hold” rating on shares of Interpublic Group of Companies in a research report on Wednesday, October 25th. Argus cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research report on Tuesday, October 31st. Finally, Zacks Investment Research cut shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. Interpublic Group of Companies has a consensus rating of “Hold” and a consensus target price of $25.57.

Interpublic Group of Companies (NYSE:IPG) traded down $0.25 during mid-day trading on Thursday, hitting $21.35. 3,516,149 shares of the stock were exchanged, compared to its average volume of 3,848,939. The company has a market cap of $8,296.80, a PE ratio of 14.83, a PEG ratio of 1.29 and a beta of 1.47. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.63. Interpublic Group of Companies has a one year low of $18.30 and a one year high of $25.71.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Tuesday, October 24th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.02). The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.96 billion. Interpublic Group of Companies had a return on equity of 27.38% and a net margin of 7.43%. Interpublic Group of Companies’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. research analysts forecast that Interpublic Group of Companies will post 1.39 EPS for the current year.

In related news, Director H John Greeniaus sold 43,479 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $19.00, for a total value of $826,101.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.49% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Acrospire Investment Management LLC lifted its position in shares of Interpublic Group of Companies by 755.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 4,506 shares of the business services provider’s stock worth $111,000 after buying an additional 3,979 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. lifted its position in shares of Interpublic Group of Companies by 35.6% during the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,775 shares of the business services provider’s stock worth $117,000 after buying an additional 1,254 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Interpublic Group of Companies during the 2nd quarter worth approximately $205,000. Ameritas Investment Partners Inc. lifted its position in shares of Interpublic Group of Companies by 1.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,123 shares of the business services provider’s stock worth $224,000 after buying an additional 90 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Interpublic Group of Companies by 98.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,589 shares of the business services provider’s stock worth $236,000 after buying an additional 4,768 shares in the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

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About Interpublic Group of Companies

The Interpublic Group of Companies, Inc is a global advertising and marketing services company. The Company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates in two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

Analyst Recommendations for Interpublic Group of Companies (NYSE:IPG)

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