Interpublic Group of Companies (NYSE:IPG – Get Free Report) was downgraded by stock analysts at Barclays from an “overweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, Marketbeat reports. They presently have a $27.50 target price on the business services provider’s stock, down from their previous target price of $34.00. Barclays‘s price objective suggests a potential upside of 13.32% from the company’s previous close.
Several other analysts have also recently issued reports on IPG. Wall Street Zen began coverage on Interpublic Group of Companies in a research report on Tuesday, May 20th. They set a “hold” rating for the company. Citigroup reissued a “buy” rating and set a $35.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Interpublic Group of Companies has an average rating of “Hold” and an average target price of $32.72.
View Our Latest Stock Report on IPG
Interpublic Group of Companies Stock Up 0.7%
Interpublic Group of Companies (NYSE:IPG – Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Interpublic Group of Companies had a return on equity of 27.21% and a net margin of 4.69%. The business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 earnings per share. As a group, analysts forecast that Interpublic Group of Companies will post 2.66 earnings per share for the current year.
Institutional Investors Weigh In On Interpublic Group of Companies
A number of institutional investors and hedge funds have recently modified their holdings of IPG. Allworth Financial LP lifted its stake in shares of Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after acquiring an additional 480 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of Interpublic Group of Companies during the 4th quarter worth approximately $247,000. First Horizon Advisors Inc. increased its holdings in Interpublic Group of Companies by 5.8% during the 4th quarter. First Horizon Advisors Inc. now owns 11,507 shares of the business services provider’s stock worth $322,000 after purchasing an additional 630 shares during the period. Howard Capital Management Inc. purchased a new position in Interpublic Group of Companies during the 4th quarter worth $273,000. Finally, Bank of New York Mellon Corp increased its holdings in Interpublic Group of Companies by 7.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,271,759 shares of the business services provider’s stock worth $119,695,000 after purchasing an additional 310,621 shares during the period. 98.43% of the stock is owned by institutional investors.
About Interpublic Group of Companies
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.
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