Investment analysts at StockNews.com assumed coverage on shares of Interpublic Group of Companies (NYSE:IPG – Get Free Report) in a research note issued on Saturday. The brokerage set a “hold” rating on the business services provider’s stock.
Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $36.00 to $33.00 in a research note on Tuesday, October 1st. Barclays dropped their target price on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. Macquarie restated a “neutral” rating and set a $31.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $26.00 to $34.00 in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $31.71.
Read Our Latest Stock Analysis on IPG
Interpublic Group of Companies Stock Performance
Interpublic Group of Companies (NYSE:IPG – Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the company posted $0.70 EPS. Interpublic Group of Companies’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, analysts anticipate that Interpublic Group of Companies will post 2.81 EPS for the current fiscal year.
Hedge Funds Weigh In On Interpublic Group of Companies
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IPG. State Street Corp boosted its holdings in Interpublic Group of Companies by 15.1% in the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock worth $943,993,000 after buying an additional 3,920,975 shares during the period. Millennium Management LLC lifted its holdings in Interpublic Group of Companies by 571.7% during the 2nd quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock worth $42,657,000 after purchasing an additional 1,248,062 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Interpublic Group of Companies by 19.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock worth $158,157,000 after purchasing an additional 899,332 shares during the period. Dimensional Fund Advisors LP grew its holdings in Interpublic Group of Companies by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock valued at $199,063,000 after buying an additional 828,150 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of Interpublic Group of Companies by 168.3% during the second quarter. Squarepoint Ops LLC now owns 831,434 shares of the business services provider’s stock valued at $24,186,000 after buying an additional 521,546 shares during the period. Institutional investors own 98.43% of the company’s stock.
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.
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