Weiss Ratings Reaffirms Hold (C) Rating for Interpublic Group of Companies (NYSE:IPG)

Interpublic Group of Companies (NYSE:IPG)‘s stock had its “hold (c)” rating reissued by Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

IPG has been the topic of a number of other reports. UBS Group lowered their target price on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating on the stock in a report on Wednesday, July 23rd. Wall Street Zen upgraded shares of Interpublic Group of Companies to a “hold” rating in a report on Saturday, August 16th. Barclays upped their price objective on shares of Interpublic Group of Companies from $27.50 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.09.

Interpublic Group of Companies Price Performance

Shares of IPG opened at $26.57 on Wednesday. The company has a market cap of $9.73 billion, a price-to-earnings ratio of 22.51 and a beta of 1.09. Interpublic Group of Companies has a 1-year low of $22.51 and a 1-year high of $33.05. The company’s fifty day simple moving average is $26.26 and its 200 day simple moving average is $25.17. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.20. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. On average, research analysts forecast that Interpublic Group of Companies will post 2.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Interpublic Group of Companies

Several institutional investors and hedge funds have recently modified their holdings of IPG. Qube Research & Technologies Ltd acquired a new position in shares of Interpublic Group of Companies in the second quarter valued at about $143,727,000. Assenagon Asset Management S.A. grew its stake in shares of Interpublic Group of Companies by 14,575.4% in the second quarter. Assenagon Asset Management S.A. now owns 3,119,249 shares of the business services provider’s stock valued at $76,359,000 after acquiring an additional 3,097,994 shares in the last quarter. Goldman Sachs Group Inc. grew its stake 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. Pentwater Capital Management LP grew its stake in shares of Interpublic Group of Companies by 568.6% in the first quarter. Pentwater Capital Management LP now owns 2,340,000 shares of the business services provider’s stock valued at $63,554,000 after acquiring an additional 1,990,000 shares in the last quarter. Finally, Calamos Advisors LLC acquired a new position in shares of Interpublic Group of Companies in the first quarter valued at about $46,172,000. 98.43% of the stock is currently 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.