Interpublic Group of Companies (NYSE:IPG) was downgraded by stock analysts at Jefferies Group from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, MarketBeat.com reports.
Other analysts have also recently issued reports about the stock. BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 price objective on shares of Interpublic Group of Companies in a research note on Wednesday, September 13th. Citigroup raised shares of Interpublic Group of Companies from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 6th. Credit Suisse Group set a $26.00 price objective on shares of Interpublic Group of Companies and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research raised shares of Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Tuesday, October 10th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Interpublic Group of Companies in a research note on Tuesday, October 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Interpublic Group of Companies presently has an average rating of “Hold” and a consensus target price of $25.77.
Shares of Interpublic Group of Companies (NYSE:IPG) traded down $0.32 during trading on Wednesday, reaching $20.15. 7,538,012 shares of the company’s stock traded hands, compared to its average volume of 4,906,042. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $7,849.89, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.25 and a beta of 1.47. Interpublic Group of Companies has a 1 year low of $18.30 and a 1 year high of $25.71.
In other news, Director H John Greeniaus sold 43,479 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $19.00, for a total transaction of $826,101.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.49% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC grew its stake in shares of Interpublic Group of Companies by 755.0% during the second quarter. Acrospire Investment Management LLC now owns 4,506 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 3,979 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. boosted its stake in Interpublic Group of Companies by 35.6% in the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,775 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 1,254 shares during the last quarter. Global X Management Co. LLC boosted its stake in Interpublic Group of Companies by 15.4% in the second quarter. Global X Management Co. LLC now owns 6,349 shares of the business services provider’s stock valued at $156,000 after acquiring an additional 847 shares during the last quarter. IFP Advisors Inc boosted its stake in Interpublic Group of Companies by 62.7% in the second quarter. IFP Advisors Inc now owns 7,308 shares of the business services provider’s stock valued at $180,000 after acquiring an additional 2,817 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in Interpublic Group of Companies in the second quarter valued at approximately $205,000. 99.97% 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).
