Atlantic Securities cut shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) from a neutral rating to an underweight rating in a report issued on Thursday, Marketbeat Ratings reports.

IPG has been the subject of a number of other research reports. Royal Bank Of Canada reiterated a buy rating and set a $29.00 price objective on shares of Interpublic Group of Companies, Inc. (The) in a report on Tuesday, April 11th. Jefferies Group LLC reiterated a buy rating and set a $27.00 price objective on shares of Interpublic Group of Companies, Inc. (The) in a report on Monday, June 26th. Zacks Investment Research upgraded shares of Interpublic Group of Companies, Inc. (The) from a hold rating to a buy rating and set a $27.00 price objective for the company in a report on Monday, April 17th. BMO Capital Markets reiterated a buy rating and set a $27.00 price objective on shares of Interpublic Group of Companies, Inc. (The) in a report on Monday, April 17th. Finally, Evercore ISI started coverage on shares of Interpublic Group of Companies, Inc. (The) in a report on Monday, April 17th. They set an outperform rating and a $28.00 price objective for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. Interpublic Group of Companies, Inc. (The) currently has a consensus rating of Hold and an average target price of $26.21.

Shares of Interpublic Group of Companies, Inc. (IPG) traded down 0.60% during trading on Thursday, hitting $21.48. 911,565 shares of the company traded hands. The company has a 50 day moving average price of $24.35 and a 200 day moving average price of $24.25. Interpublic Group of Companies, Inc. has a 52 week low of $20.94 and a 52 week high of $25.71. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 15.46 and a beta of 1.56.

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) last announced its quarterly earnings data on Tuesday, July 25th. The business services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by $0.07. Interpublic Group of Companies, Inc. (The) had a net margin of 7.19% and a return on equity of 27.72%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the business earned $0.33 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, analysts expect that Interpublic Group of Companies, Inc. will post $1.44 earnings per share for the current year.

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In other news, SVP Julie Connors sold 5,854 shares of Interpublic Group of Companies, Inc. (The) stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $24.26, for a total value of $142,018.04. Following the transaction, the senior vice president now owns 10,592 shares of the company’s stock, valued at approximately $256,961.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.49% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Manhattan Co. increased its position in shares of Interpublic Group of Companies, Inc. (The) by 2.7% in the second quarter. First Manhattan Co. now owns 7,533 shares of the business services provider’s stock worth $185,000 after buying an additional 195 shares during the last quarter. Mawer Investment Management Ltd. increased its position in shares of Interpublic Group of Companies, Inc. (The) by 5.5% in the second quarter. Mawer Investment Management Ltd. now owns 1,986,680 shares of the business services provider’s stock worth $48,872,000 after buying an additional 103,880 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Interpublic Group of Companies, Inc. (The) by 3.1% in the second quarter. Great West Life Assurance Co. Can now owns 416,956 shares of the business services provider’s stock worth $10,241,000 after buying an additional 12,516 shares during the last quarter. NGAM Advisors L.P. increased its position in shares of Interpublic Group of Companies, Inc. (The) by 15.9% in the second quarter. NGAM Advisors L.P. now owns 164,333 shares of the business services provider’s stock worth $4,043,000 after buying an additional 22,521 shares during the last quarter. Finally, Sumitomo Life Insurance Co. increased its position in shares of Interpublic Group of Companies, Inc. (The) by 4.9% in the second quarter. Sumitomo Life Insurance Co. now owns 61,452 shares of the business services provider’s stock worth $1,512,000 after buying an additional 2,865 shares during the last quarter. 98.19% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies, Inc. (The) Company Profile

The Interpublic Group of Companies, Inc is a global advertising and marketing services company. The Company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates in two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

Analyst Recommendations for Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

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