JPMorgan Chase & Co. Lowers Interpublic Group of Companies (NYSE:IPG) Price Target to $36.00

Interpublic Group of Companies (NYSE:IPG) had its target price cut by analysts at JPMorgan Chase & Co. from $37.00 to $36.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 22.37% from the company’s previous close.

A number of other analysts also recently commented on IPG. Bank of America dropped their target price on shares of Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Wells Fargo & Company cut their price objective on Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Interpublic Group of Companies presently has an average rating of “Hold” and a consensus price target of $34.88.

Interpublic Group of Companies Stock Performance

IPG opened at $29.42 on Friday. The business has a 50 day moving average price of $30.23 and a two-hundred day moving average price of $31.42. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $11.10 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 3.07 and a beta of 1.12. Interpublic Group of Companies has a 1-year low of $27.20 and a 1-year high of $40.90.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. Interpublic Group of Companies had a return on equity of 29.70% and a net margin of 9.97%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the business posted $0.38 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Research analysts predict that Interpublic Group of Companies will post 2.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Interpublic Group of Companies

A number of institutional investors have recently bought and sold shares of IPG. Hudson Bay Capital Management LP purchased a new position in Interpublic Group of Companies during the third quarter valued at approximately $4,446,000. Symmetry Partners LLC purchased a new stake in shares of Interpublic Group of Companies during the fourth quarter worth $202,000. Capital Investment Advisors LLC acquired a new stake in Interpublic Group of Companies during the fourth quarter valued at $220,000. Diversified Trust Co grew its stake in Interpublic Group of Companies by 653.6% in the fourth quarter. Diversified Trust Co now owns 93,101 shares of the business services provider’s stock valued at $3,039,000 after purchasing an additional 80,747 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning acquired a new position in Interpublic Group of Companies in the 4th quarter worth about $566,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

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.