Interpublic Group of Companies (NYSE:IPG) PT Lowered to $34.00 at Barclays

Interpublic Group of Companies (NYSE:IPG) had its price objective lowered by analysts at Barclays from $35.00 to $34.00 in a report released on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Barclays‘s price objective suggests a potential upside of 14.98% from the company’s current price.

Several other equities analysts have also recently issued reports on IPG. Wells Fargo & Company dropped their price target on Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Bank of America dropped their target price on Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $34.00 to $28.00 in a research note on Monday. Macquarie lowered their price objective on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $34.13.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $29.57 on Thursday. The company’s 50 day simple moving average is $30.02 and its 200-day simple moving average is $31.26. The firm has a market cap of $11.16 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 3.18 and a beta of 1.12. Interpublic Group of Companies has a 12-month low of $27.20 and a 12-month high of $35.24. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.61. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.70%. Interpublic Group of Companies’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. As a group, equities analysts predict that Interpublic Group of Companies will post 2.8 EPS for the current year.

Hedge Funds Weigh In On Interpublic Group of Companies

A number of large investors have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC acquired a new position in Interpublic Group of Companies during the fourth quarter worth about $29,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Interpublic Group of Companies during the 4th quarter worth approximately $31,000. Tobam grew its holdings in shares of Interpublic Group of Companies by 2,340.0% in the 4th quarter. Tobam now owns 1,098 shares of the business services provider’s stock worth $36,000 after acquiring an additional 1,053 shares during the period. Headlands Technologies LLC purchased a new position in Interpublic Group of Companies in the 1st quarter valued at approximately $42,000. Finally, Salomon & Ludwin LLC raised its holdings in Interpublic Group of Companies by 2,024.6% during the first quarter. Salomon & Ludwin LLC now owns 1,296 shares of the business services provider’s stock worth $42,000 after purchasing an additional 1,235 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

About Interpublic Group of Companies

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.