Interpublic Group of Companies (NYSE:IPG) Upgraded to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies (NYSE:IPG) from a neutral rating to an overweight rating in a report released on Monday, Marketbeat reports. JPMorgan Chase & Co. currently has $39.00 price objective on the business services provider’s stock, up from their prior price objective of $32.00.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a report on Monday, January 20th. They set a “hold” rating on the stock. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research note on Friday, January 10th. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $32.00 to $36.00 in a research note on Friday. Finally, Macquarie reiterated a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus price target of $33.75.

Interpublic Group of Companies Trading Up 2.6 %

Shares of NYSE:IPG opened at $29.29 on Monday. Interpublic Group of Companies has a 12 month low of $26.30 and a 12 month high of $35.17. 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’s fifty day simple moving average is $28.76 and its 200 day simple moving average is $30.05. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of 13.81 and a beta of 1.11.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IPG. Public Sector Pension Investment Board increased its stake in shares of Interpublic Group of Companies by 65.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 14,471 shares of the business services provider’s stock worth $421,000 after purchasing an additional 5,724 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Interpublic Group of Companies by 45.9% during the 2nd quarter. AQR Capital Management LLC now owns 209,173 shares of the business services provider’s stock worth $6,085,000 after purchasing an additional 65,759 shares during the last quarter. APG Asset Management N.V. increased its stake in shares of Interpublic Group of Companies by 227.7% during the 2nd quarter. APG Asset Management N.V. now owns 46,053 shares of the business services provider’s stock worth $1,250,000 after purchasing an additional 32,000 shares during the last quarter. MBB Public Markets I LLC acquired a new position in shares of Interpublic Group of Companies during the 2nd quarter worth about $831,000. Finally, Millennium Management LLC increased its stake in shares of 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 during the last quarter. 98.43% of the stock is currently 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.