StockNews.com Initiates Coverage on Interpublic Group of Companies (NYSE:IPG)

Research analysts at StockNews.com started coverage on shares of Interpublic Group of Companies (NYSE:IPG) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the business services provider’s stock.

A number of other equities analysts have also recently issued reports on IPG. Argus cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $32.00 to $36.00 in a report on Friday, January 24th. BNP Paribas upgraded Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Friday, January 10th. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $26.00 to $34.00 in a research note on Tuesday, December 10th. Finally, UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $29.00 to $27.00 in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Interpublic Group of Companies has an average rating of “Hold” and a consensus price target of $33.50.

Interpublic Group of Companies Trading Up 3.2 %

NYSE IPG opened at $28.20 on Friday. The stock has a 50-day moving average of $27.74 and a 200-day moving average of $29.48. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. Interpublic Group of Companies has a 1-year low of $26.15 and a 1-year high of $35.17. The firm has a market cap of $10.51 billion, a PE ratio of 15.41 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. As a group, sell-side analysts forecast that Interpublic Group of Companies will post 2.66 EPS for the current year.

Interpublic Group of Companies announced that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Interpublic Group of Companies

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $26.82, for a total value of $574,672.14. Following the transaction, the chief financial officer now owns 143,373 shares in the company, valued at approximately $3,845,263.86. This represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Interpublic Group of Companies

Institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Interpublic Group of Companies in the 3rd quarter worth $32,000. Allworth Financial LP increased its holdings in Interpublic Group of Companies by 75.8% in the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after buying an additional 480 shares in the last quarter. OFI Invest Asset Management purchased a new position in Interpublic Group of Companies in the 4th quarter worth about $36,000. Raiffeisen Bank International AG bought a new position in Interpublic Group of Companies during the 4th quarter valued at about $42,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Interpublic Group of Companies during the 3rd quarter valued at about $60,000. Institutional investors own 98.43% of the company’s stock.

About Interpublic Group of Companies

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.