Interpublic Group of Companies (NYSE:IPG) Downgraded by Barclays to “Equal Weight”

Interpublic Group of Companies (NYSE:IPGGet 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%

IPG stock opened at $24.27 on Wednesday. Interpublic Group of Companies has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The business’s 50-day moving average is $24.25 and its two-hundred day moving average is $26.19. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 18.53 and a beta of 1.06.

Interpublic Group of Companies (NYSE:IPGGet 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

(Get Free Report)

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

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