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

Interpublic Group of Companies (NYSE:IPG) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has a $39.00 price objective on the business services provider’s stock, up from their prior price objective of $32.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 35.16% from the company’s current price.

A number of other analysts also recently commented on IPG. BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective 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 boosted their price target for the stock from $32.00 to $36.00 in a research report on Friday, January 24th. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research note on Monday, January 20th. They issued a “hold” rating on the stock. Finally, Macquarie reissued a “neutral” rating and set a $31.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and an average price target of $33.75.

Interpublic Group of Companies Trading Down 1.5 %

Interpublic Group of Companies stock opened at $28.86 on Monday. Interpublic Group of Companies has a 12-month low of $26.30 and a 12-month high of $35.17. The stock has a market capitalization of $10.75 billion, a PE ratio of 13.61 and a beta of 1.11. The firm has a 50 day simple moving average of $28.80 and a 200-day simple moving average of $30.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09.

Hedge Funds Weigh In On Interpublic Group of Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPG. State Street Corp lifted its holdings in shares of Interpublic Group of Companies by 15.1% in the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after purchasing an additional 3,920,975 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Interpublic Group of Companies by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,426,923 shares of the business services provider’s stock valued at $393,064,000 after buying an additional 270,857 shares during the period. Geode Capital Management LLC boosted its position in Interpublic Group of Companies by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 9,449,534 shares of the business services provider’s stock worth $298,107,000 after acquiring an additional 81,265 shares during the period. Pacer Advisors Inc. grew its stake in Interpublic Group of Companies by 25,637.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock valued at $207,439,000 after acquiring an additional 7,374,491 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Interpublic Group of Companies by 10.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,402,349 shares of the business services provider’s stock valued at $139,246,000 after purchasing an additional 417,741 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

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.