StockNews.com Initiates Coverage on Interpublic Group of Companies (NYSE:IPG)

Equities research analysts at StockNews.com began coverage on shares of Interpublic Group of Companies (NYSE:IPG) in a report issued on Thursday. The brokerage set a “hold” rating on the business services provider’s stock.

Several other research firms have also weighed in on IPG. Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $32.00 to $36.00 in a report on Friday, January 24th. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $32.00 to $39.00 in a report on Monday, January 27th. BNP Paribas upgraded Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price for the company in a report on Friday, January 10th. Macquarie reiterated a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $33.50.

Interpublic Group of Companies Stock Up 0.4 %

Shares of Interpublic Group of Companies stock opened at $27.08 on Thursday. The firm has a market cap of $10.09 billion, a price-to-earnings ratio of 12.77 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. Interpublic Group of Companies has a 52-week low of $26.30 and a 52-week high of $35.17. The stock has a 50-day simple moving average of $28.35 and a 200-day simple moving average of $29.88.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. On average, equities research analysts expect that Interpublic Group of Companies will post 2.8 earnings per share for the current fiscal year.

Interpublic Group of Companies announced that its board has initiated a share repurchase plan on Wednesday, February 12th that permits the company to buyback $155.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Interpublic Group of Companies

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp increased its position in shares of Interpublic Group of Companies by 15.1% during the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after purchasing an additional 3,920,975 shares during the period. Canada Pension Plan Investment Board grew its position in Interpublic Group of Companies by 139.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider’s stock valued at $370,157,000 after acquiring an additional 7,693,636 shares during the period. First Trust Advisors LP grew its position in Interpublic Group of Companies by 13.0% in the fourth quarter. First Trust Advisors LP now owns 12,975,872 shares of the business services provider’s stock valued at $363,584,000 after acquiring an additional 1,492,019 shares during the period. Charles Schwab Investment Management Inc. grew its position in Interpublic Group of Companies by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,938,530 shares of the business services provider’s stock valued at $362,538,000 after acquiring an additional 511,607 shares during the period. Finally, Invesco Ltd. grew its position in Interpublic Group of Companies by 14.8% in the fourth quarter. Invesco Ltd. now owns 10,264,732 shares of the business services provider’s stock valued at $287,618,000 after acquiring an additional 1,320,345 shares during the period. 98.43% of the stock is currently owned by 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.