Interpublic Group of Companies (NYSE:IPG) Price Target Cut to $27.50 by Analysts at Barclays

Interpublic Group of Companies (NYSE:IPG) had its target price reduced by Barclays from $28.00 to $27.50 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Barclays‘s price objective would indicate a potential upside of 8.26% from the company’s current price.

A number of other analysts have also commented on the company. UBS Group cut their price target on Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating on the stock in a research note on Wednesday, July 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Interpublic Group of Companies in a research report on Wednesday, October 8th. Zacks Research lowered shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Finally, Wall Street Zen raised shares of Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Interpublic Group of Companies presently has an average rating of “Hold” and an average price target of $32.18.

Interpublic Group of Companies Price Performance

IPG stock traded up $0.05 during trading on Wednesday, reaching $25.40. 804,348 shares of the company were exchanged, compared to its average volume of 6,729,560. Interpublic Group of Companies has a twelve month low of $22.51 and a twelve month high of $33.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 21.48 and a beta of 1.12. The company has a 50-day moving average of $26.35 and a two-hundred day moving average of $25.41.

Institutional Trading of Interpublic Group of Companies

Several institutional investors and hedge funds have recently modified their holdings of IPG. Canada Pension Plan Investment Board boosted its position in shares of Interpublic Group of Companies by 6.7% during the second quarter. Canada Pension Plan Investment Board now owns 14,819,997 shares of the business services provider’s stock valued at $362,794,000 after buying an additional 934,613 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Interpublic Group of Companies by 1.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 13,998,667 shares of the business services provider’s stock valued at $342,687,000 after purchasing an additional 217,212 shares in the last quarter. Invesco Ltd. boosted its holdings in Interpublic Group of Companies by 3.5% during the second quarter. Invesco Ltd. now owns 10,610,766 shares of the business services provider’s stock worth $259,752,000 after purchasing an additional 360,987 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Interpublic Group of Companies by 49.0% in the first quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider’s stock valued at $231,138,000 after acquiring an additional 2,797,490 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Interpublic Group of Companies by 139.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,175,766 shares of the business services provider’s stock valued at $228,188,000 after purchasing an additional 4,762,895 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

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.