Barclays Cuts Interpublic Group of Companies (NYSE:IPG) Price Target to $27.50

Interpublic Group of Companies (NYSE:IPG) had its price target cut by Barclays from $28.00 to $27.50 in a research note published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

Other analysts have also issued research reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Interpublic Group of Companies in a report on Wednesday, October 8th. Zacks Research downgraded Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. UBS Group decreased their price target on Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating on the stock in a report on Wednesday, July 23rd. Finally, Wall Street Zen raised Interpublic Group of Companies to a “hold” rating in a report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $32.18.

Interpublic Group of Companies Stock Performance

Shares of NYSE:IPG opened at $24.77 on Wednesday. The business has a fifty day moving average of $26.25 and a 200-day moving average of $25.41. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07. Interpublic Group of Companies has a twelve month low of $22.51 and a twelve month high of $33.05. The firm has a market cap of $9.00 billion, a PE ratio of 20.99 and a beta of 1.12.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Monday, November 10th. The business services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.19 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The company’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 EPS. On average, equities research analysts predict that Interpublic Group of Companies will post 2.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Interpublic Group of Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board raised its position in shares of Interpublic Group of Companies by 6.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 14,819,997 shares of the business services provider’s stock valued at $362,794,000 after acquiring an additional 934,613 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Interpublic Group of Companies by 1.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 13,998,667 shares of the business services provider’s stock worth $342,687,000 after purchasing an additional 217,212 shares during the period. Wellington Management Group LLP raised its holdings in Interpublic Group of Companies by 2,197.6% in the third quarter. Wellington Management Group LLP now owns 13,949,010 shares of the business services provider’s stock worth $389,317,000 after purchasing an additional 13,341,886 shares during the period. Invesco Ltd. boosted its position in shares of Interpublic Group of Companies by 1.0% during the third quarter. Invesco Ltd. now owns 10,720,515 shares of the business services provider’s stock worth $299,210,000 after purchasing an additional 109,749 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Interpublic Group of Companies by 17.9% in the 3rd quarter. UBS Group AG now owns 9,262,642 shares of the business services provider’s stock valued at $258,520,000 after buying an additional 1,407,834 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.