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

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

A number of other equities analysts have also recently weighed in on the company. Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their target price for the company from $32.00 to $39.00 in a research note on Monday, January 27th. Citigroup reiterated a “buy” rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and reduced their target price for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. Finally, Barclays reduced their target price on Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $33.44.

Interpublic Group of Companies Stock Down 0.1%

NYSE IPG opened at $25.62 on Monday. The stock has a market cap of $9.47 billion, a PE ratio of 14.00 and a beta of 1.09. Interpublic Group of Companies has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The business has a 50 day moving average price of $25.33 and a two-hundred day moving average price of $27.43. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm 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 27.10% and a net margin of 6.45%. Interpublic Group of Companies’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. As a group, sell-side analysts predict that Interpublic Group of Companies will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies announced that its board has initiated a stock buyback 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 shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the sale, the chief financial officer now directly owns 143,373 shares of the company’s stock, valued at approximately $3,845,263.86. This represents a 13.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Interpublic Group of Companies

Several large investors have recently added to or reduced their stakes in IPG. Barclays PLC increased its position in Interpublic Group of Companies by 0.8% in the third quarter. Barclays PLC now owns 1,651,753 shares of the business services provider’s stock worth $52,243,000 after buying an additional 13,546 shares during the period. Franklin Resources Inc. increased its position in Interpublic Group of Companies by 1.7% in the third quarter. Franklin Resources Inc. now owns 295,937 shares of the business services provider’s stock worth $9,322,000 after buying an additional 4,848 shares during the period. Nordea Investment Management AB increased its position in Interpublic Group of Companies by 10.8% in the fourth quarter. Nordea Investment Management AB now owns 28,594 shares of the business services provider’s stock worth $804,000 after buying an additional 2,787 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Interpublic Group of Companies by 1.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 49,532 shares of the business services provider’s stock worth $1,388,000 after buying an additional 884 shares during the period. Finally, Czech National Bank increased its position in Interpublic Group of Companies by 5.6% in the fourth quarter. Czech National Bank now owns 80,768 shares of the business services provider’s stock worth $2,263,000 after buying an additional 4,257 shares during the period. 98.43% of the stock is owned by institutional investors and hedge funds.

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.