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

Analysts at StockNews.com began coverage on shares of Interpublic Group of Companies (NYSE:IPG) in a report released on Tuesday. The firm set a “hold” rating on the business services provider’s stock.

IPG has been the topic of a number of other reports. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $32.00 to $39.00 in a research report on Monday, January 27th. UBS Group raised shares of 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. 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. Argus downgraded Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $32.00 to $36.00 in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $33.50.

Interpublic Group of Companies Price Performance

IPG opened at $26.50 on Tuesday. The firm has a market capitalization of $9.87 billion, a P/E ratio of 14.48 and a beta of 1.14. The stock has a fifty day moving average of $27.46 and a 200-day moving average of $28.99. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. Interpublic Group of Companies has a 12-month low of $25.85 and a 12-month high of $33.05.

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

Interpublic Group of Companies announced that its board has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in shares. This repurchase authorization authorizes the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction 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 $3,845,263.86. This trade represents a 13.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Interpublic Group of Companies

Several hedge funds and other institutional investors have recently made changes to their positions in IPG. Quest Partners LLC grew its holdings in Interpublic Group of Companies by 418.7% in the 3rd quarter. Quest Partners LLC now owns 6,878 shares of the business services provider’s stock valued at $218,000 after buying an additional 5,552 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Interpublic Group of Companies in the third quarter valued at approximately $294,000. Cerity Partners LLC grew its stake in shares of Interpublic Group of Companies by 448.5% in the third quarter. Cerity Partners LLC now owns 268,154 shares of the business services provider’s stock worth $8,482,000 after acquiring an additional 219,263 shares during the last quarter. Swedbank AB increased its position in Interpublic Group of Companies by 2.1% during the third quarter. Swedbank AB now owns 613,367 shares of the business services provider’s stock worth $19,401,000 after acquiring an additional 12,431 shares during the period. Finally, Larson Financial Group LLC raised its stake in Interpublic Group of Companies by 95.6% during the 3rd quarter. Larson Financial Group LLC now owns 12,892 shares of the business services provider’s stock valued at $408,000 after purchasing an additional 6,300 shares during the last quarter. 98.43% of the stock is 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.