The Interpublic Group of Companies (NYSE:IPG) was upgraded by analysts at Wolfe Research from a “market perform” rating to an “outperform” rating in a report issued on Friday, Analyst Ratings Network reports. The brokerage currently has a $23.00 target price on the business services provider’s stock, up from their previous target price of $20.00. Wolfe Research’s target price would indicate a potential upside of 25.96% from the company’s previous close.

Separately, JPMorgan Chase & Co. lifted their price target on shares of The Interpublic Group of Companies from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $20.20.

Shares of IPG stock opened at $18.26 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.37. The Interpublic Group of Companies has a 1 year low of $11.63 and a 1 year high of $25.20. The firm’s fifty day moving average price is $17.64 and its two-hundred day moving average price is $17.17. The firm has a market capitalization of $7.12 billion, a P/E ratio of 15.88, a PEG ratio of 9.05 and a beta of 1.00.

The Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. The Interpublic Group of Companies had a net margin of 4.66% and a return on equity of 25.72%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the business earned $0.57 EPS. The company’s revenue was down 12.8% compared to the same quarter last year. As a group, equities research analysts forecast that The Interpublic Group of Companies will post 1.53 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in The Interpublic Group of Companies by 14.7% in the 2nd quarter. FMR LLC now owns 43,892,635 shares of the business services provider’s stock valued at $753,198,000 after buying an additional 5,633,544 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new position in The Interpublic Group of Companies in the 2nd quarter valued at about $27,803,000. Prudential PLC grew its stake in The Interpublic Group of Companies by 32.9% in the 2nd quarter. Prudential PLC now owns 5,025,901 shares of the business services provider’s stock valued at $86,244,000 after buying an additional 1,243,125 shares during the last quarter. State Street Corp grew its stake in The Interpublic Group of Companies by 6.3% in the 1st quarter. State Street Corp now owns 20,043,088 shares of the business services provider’s stock valued at $324,498,000 after buying an additional 1,194,224 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in The Interpublic Group of Companies by 13.4% in the 2nd quarter. Victory Capital Management Inc. now owns 9,973,482 shares of the business services provider’s stock valued at $171,146,000 after buying an additional 1,174,774 shares during the last quarter. Institutional investors own 98.58% of the company’s stock.

The Interpublic Group of Companies Company Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data management services.

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

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