Interpublic Group of Companies (NYSE:IPG) Stock Rating Upgraded by BNP Paribas

Interpublic Group of Companies (NYSE:IPG) was upgraded by analysts at BNP Paribas from an “underperform” rating to an “outperform” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has a $38.00 price objective on the business services provider’s stock. BNP Paribas’ price objective indicates a potential upside of 42.38% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. downgraded shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their target price for the company from $36.00 to $33.00 in a research note on Tuesday, October 1st. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research note on Saturday, January 4th. They issued a “hold” rating on the stock. Barclays lowered their price target on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price target for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Finally, Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Interpublic Group of Companies currently has an average rating of “Hold” and a consensus price target of $32.50.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $26.69 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The company has a market cap of $9.94 billion, a P/E ratio of 12.59 and a beta of 1.11. Interpublic Group of Companies has a fifty-two week low of $26.60 and a fifty-two week high of $35.17. The firm’s 50 day moving average is $29.06 and its two-hundred day moving average is $30.10.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the firm posted $0.70 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Analysts expect that Interpublic Group of Companies will post 2.81 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IPG. Benjamin Edwards Inc. grew its holdings in Interpublic Group of Companies by 73.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after acquiring an additional 375 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Interpublic Group of Companies during the 3rd quarter worth $26,000. Ashton Thomas Securities LLC acquired a new position in Interpublic Group of Companies during the 3rd quarter worth $32,000. EverSource Wealth Advisors LLC grew its holdings in Interpublic Group of Companies by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock worth $38,000 after acquiring an additional 405 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Interpublic Group of Companies during the 2nd quarter worth $39,000. 98.43% of the stock is owned by institutional investors and hedge funds.

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.