Interpublic Group of Companies (NYSE:IPG) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Interpublic Group of Companies (NYSE:IPG) in a research note issued on Sunday. The firm set a “hold” rating on the business services provider’s stock.

IPG has been the subject of a number of other reports. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $27.00 in a report on Thursday, February 13th. Argus downgraded shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $32.00 to $39.00 in a report on Monday, January 27th. Finally, Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $32.00 to $36.00 in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $33.50.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $28.22 on Friday. The stock has a 50 day moving average price of $27.75 and a two-hundred day moving average price of $29.44. The firm has a market capitalization of $10.52 billion, a P/E ratio of 15.42 and a beta of 1.14. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. Interpublic Group of Companies has a 52 week low of $26.15 and a 52 week high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. Equities analysts forecast that Interpublic Group of Companies will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $155.00 million in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $26.82, for a total value of $574,672.14. Following the completion of the sale, the chief financial officer now directly owns 143,373 shares of the company’s stock, valued at $3,845,263.86. This represents a 13.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Copley Financial Group Inc. lifted its holdings in shares of Interpublic Group of Companies by 4.6% in the fourth quarter. Copley Financial Group Inc. now owns 16,058 shares of the business services provider’s stock valued at $450,000 after purchasing an additional 712 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Interpublic Group of Companies in the 4th quarter worth approximately $11,637,000. Forum Financial Management LP increased its stake in Interpublic Group of Companies by 17.2% during the 4th quarter. Forum Financial Management LP now owns 7,612 shares of the business services provider’s stock worth $213,000 after buying an additional 1,115 shares during the period. Toronto Dominion Bank raised its position in shares of Interpublic Group of Companies by 40.4% in the 4th quarter. Toronto Dominion Bank now owns 253,675 shares of the business services provider’s stock valued at $7,106,000 after purchasing an additional 73,054 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of Interpublic Group of Companies in the 4th quarter valued at about $1,923,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies Company Profile

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.