Wells Fargo & Company Cuts Interpublic Group of Companies (NYSE:IPG) Price Target to $31.00

Interpublic Group of Companies (NYSE:IPG) had its price objective dropped by equities research analysts at Wells Fargo & Company from $32.00 to $31.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 1.49% from the stock’s previous close.

Other analysts have also issued reports about the stock. UBS Group initiated coverage on shares of Interpublic Group of Companies in a report on Thursday, January 11th. They issued a “neutral” rating and a $36.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. Finally, Barclays lifted their target price on Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.13.

Interpublic Group of Companies Stock Up 1.0 %

NYSE IPG opened at $31.47 on Thursday. Interpublic Group of Companies has a 52 week low of $27.20 and a 52 week high of $40.95. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.75. The business’s fifty day simple moving average is $31.89 and its 200-day simple moving average is $31.37. The firm has a market cap of $11.88 billion, a PE ratio of 11.20, a P/E/G ratio of 2.28 and a beta of 1.13.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.18 billion. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.70%. Interpublic Group of Companies’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. As a group, equities analysts anticipate that Interpublic Group of Companies will post 2.77 earnings per share for the current year.

Insider Transactions at Interpublic Group of Companies

In other news, CAO Christopher F. Carroll sold 18,382 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $591,900.40. Following the completion of the transaction, the chief accounting officer now directly owns 42,390 shares of the company’s stock, valued at $1,364,958. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Andrew Bonzani sold 40,468 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $1,303,069.60. Following the completion of the transaction, the executive vice president now directly owns 70,431 shares of the company’s stock, valued at $2,267,878.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Christopher F. Carroll sold 18,382 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $591,900.40. Following the transaction, the chief accounting officer now directly owns 42,390 shares of the company’s stock, valued at $1,364,958. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,646 shares of company stock valued at $8,038,601. 0.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Interpublic Group of Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IPG. Bank of New York Mellon Corp boosted its holdings in Interpublic Group of Companies by 12.1% in the first quarter. Bank of New York Mellon Corp now owns 14,096,675 shares of the business services provider’s stock valued at $459,975,000 after purchasing an additional 1,516,975 shares in the last quarter. Black Creek Investment Management Inc. boosted its holdings in Interpublic Group of Companies by 14.1% in the third quarter. Black Creek Investment Management Inc. now owns 9,722,563 shares of the business services provider’s stock valued at $278,649,000 after purchasing an additional 1,204,630 shares in the last quarter. Norges Bank acquired a new position in Interpublic Group of Companies in the fourth quarter valued at approximately $32,620,000. American Century Companies Inc. boosted its holdings in Interpublic Group of Companies by 24.6% in the third quarter. American Century Companies Inc. now owns 4,635,459 shares of the business services provider’s stock valued at $132,852,000 after purchasing an additional 916,574 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Interpublic Group of Companies by 12.7% in the fourth quarter. First Trust Advisors LP now owns 6,922,608 shares of the business services provider’s stock valued at $225,954,000 after purchasing an additional 777,456 shares in the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

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.