Wells Fargo & Co Reaffirms Hold Rating for Interpublic Group of Companies (IPG)

Interpublic Group of Companies (NYSE:IPG)‘s stock had its “hold” rating reissued by investment analysts at Wells Fargo & Co in a research note issued to investors on Wednesday.

The analysts wrote, “We believe IPG’s assets are broadly competitive and that investors place too much emphasis on the scale argument across the agency landscape. However, we acknowledge an array of headwinds currently facing the agency holding companies and, amid this backdrop, we view current valuation as full. DISCLOSURE APPENDIX Required Disclosures Additional Information Available Upon Request I certify that: 1) All views expressed in this research report accurately reflect my personal views about any and all of the subject securities or issuers discussed; and 2) No part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by me in this research report. Wells Fargo Securities, LLC and/or its affiliates, have beneficial ownership of 0.5% or more of any class of the common stock of The Interpublic Group of Companies, Inc.””

IPG has been the subject of several other research reports. Argus cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a research note on Tuesday, October 31st. Morgan Stanley lifted their price objective on shares of Interpublic Group of Companies to $23.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Pivotal Research reiterated a “buy” rating and issued a $23.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, October 24th. Zacks Investment Research upgraded shares of Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Tuesday. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Interpublic Group of Companies in a research note on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $26.07.

Interpublic Group of Companies (NYSE IPG) traded up $0.50 during midday trading on Wednesday, hitting $24.99. 8,308,060 shares of the stock were exchanged, compared to its average volume of 5,869,445. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.63. The firm has a market cap of $9,560.00, a PE ratio of 16.73, a PEG ratio of 2.29 and a beta of 1.45. 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 posted its earnings results on Wednesday, February 14th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. Interpublic Group of Companies had a net margin of 7.43% and a return on equity of 27.38%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the company posted $0.81 EPS. Interpublic Group of Companies’s quarterly revenue was up 3.4% compared to the same quarter last year. equities analysts anticipate that Interpublic Group of Companies will post 1.39 EPS for the current fiscal year.

Interpublic Group of Companies declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 14th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Several large investors have recently modified their holdings of IPG. Pzena Investment Management LLC raised its position in shares of Interpublic Group of Companies by 99.2% in the 4th quarter. Pzena Investment Management LLC now owns 17,855,163 shares of the business services provider’s stock valued at $359,960,000 after buying an additional 8,890,439 shares in the last quarter. BlackRock Inc. raised its position in shares of Interpublic Group of Companies by 12.8% in the 4th quarter. BlackRock Inc. now owns 39,906,603 shares of the business services provider’s stock valued at $804,517,000 after buying an additional 4,539,905 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Interpublic Group of Companies by 159.5% in the 3rd quarter. Wells Fargo & Company MN now owns 7,250,126 shares of the business services provider’s stock valued at $150,730,000 after buying an additional 4,455,788 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Interpublic Group of Companies by 9,649.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,442,846 shares of the business services provider’s stock valued at $50,787,000 after buying an additional 2,417,789 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its position in shares of Interpublic Group of Companies by 119.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 4,179,701 shares of the business services provider’s stock valued at $84,262,000 after buying an additional 2,270,953 shares in the last quarter. Institutional investors own 96.55% of the company’s stock.

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Interpublic Group of Companies Company Profile

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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