Zacks Investment Research Upgrades Interpublic Group of Companies (IPG) to “Buy”

Interpublic Group of Companies (NYSE:IPG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $25.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.22% from the stock’s previous close.

According to Zacks, “Interpublic’s digital capabilities, diversified business model and geographic reach offer a distinctive competitive advantage. The company continues to look for strategic investments/acquisitions to expand in high-growth regions and key world markets. The company plans to focus on de-leveraging and improving its balance sheet and reducing effective cost of debt. Interpublic expects to strengthen its position with respect to new business activities as well as opportunities from existing and new clients. The company’s efforts in reducing costs, continuous margin improvement, stronger balance sheet and better capital structure should improve its profitability. Interpublic also outperformed the industry in the last three months. However, Interpublic is likely to be stifled by the renegotiated deals and restrictions imposed on trade with other European Union members post the Brexit referendum, lowering its productivity.”

A number of other research firms have also weighed in on IPG. Bank of America lowered shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 25th. ValuEngine downgraded shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Morgan Stanley increased their price target on shares of Interpublic Group of Companies to $23.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Pivotal Research reissued a “buy” rating and set a $26.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, January 23rd. Finally, Wells Fargo & Co downgraded shares of Interpublic Group of Companies from an “outperform” rating to a “market perform” rating and set a $23.00 price target on the stock. in a report on Thursday, January 18th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Interpublic Group of Companies has a consensus rating of “Hold” and an average target price of $25.79.

Interpublic Group of Companies (NYSE IPG) traded up $0.17 during trading hours on Tuesday, hitting $22.08. 3,138,411 shares of the stock were exchanged, compared to its average volume of 5,303,823. The firm has a market capitalization of $8,448.35, a price-to-earnings ratio of 15.47, a P/E/G ratio of 2.24 and a beta of 1.45. Interpublic Group of Companies has a 1 year low of $18.30 and a 1 year high of $25.71. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.93 and a quick ratio of 0.93.

A number of institutional investors and hedge funds have recently bought and sold shares of IPG. Thrivent Financial For Lutherans lifted its holdings in Interpublic Group of Companies by 2.6% during the second quarter. Thrivent Financial For Lutherans now owns 14,867 shares of the business services provider’s stock valued at $366,000 after purchasing an additional 380 shares in the last quarter. QS Investors LLC lifted its holdings in Interpublic Group of Companies by 54.5% during the second quarter. QS Investors LLC now owns 11,622 shares of the business services provider’s stock valued at $286,000 after purchasing an additional 4,100 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Interpublic Group of Companies by 98.9% during the second quarter. Cubist Systematic Strategies LLC now owns 9,589 shares of the business services provider’s stock valued at $236,000 after purchasing an additional 4,768 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Interpublic Group of Companies by 1.0% during the second quarter. Ameritas Investment Partners Inc. now owns 9,123 shares of the business services provider’s stock valued at $224,000 after purchasing an additional 90 shares in the last quarter. Finally, Verition Fund Management LLC lifted its holdings in Interpublic Group of Companies by 101.2% during the second quarter. Verition Fund Management LLC now owns 21,341 shares of the business services provider’s stock valued at $525,000 after purchasing an additional 10,736 shares in the last quarter. 96.55% of the stock is currently owned by institutional investors and hedge funds.

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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).

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