Interpublic Group of Companies (NYSE:IPG) Price Target Cut to $35.00 by Analysts at Morgan Stanley

Interpublic Group of Companies (NYSE:IPGGet Rating) had its target price reduced by equities researchers at Morgan Stanley from $40.00 to $35.00 in a research report issued on Friday, The Fly reports. Morgan Stanley’s target price would indicate a potential upside of 15.70% from the stock’s current price.

IPG has been the subject of several other reports. Argus raised shares of Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Monday, March 21st. StockNews.com began coverage on shares of Interpublic Group of Companies in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Barclays cut shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $47.00 to $42.00 in a research report on Monday, March 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $39.40.

IPG stock opened at $30.25 on Friday. Interpublic Group of Companies has a 12 month low of $27.67 and a 12 month high of $39.98. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $32.97 and a 200 day moving average price of $34.96. The stock has a market cap of $11.91 billion, a PE ratio of 11.82, a P/E/G ratio of 2.58 and a beta of 0.99.

Interpublic Group of Companies (NYSE:IPGGet Rating) last released its quarterly earnings results on Thursday, April 28th. The business services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Interpublic Group of Companies had a net margin of 9.67% and a return on equity of 31.10%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 EPS. Sell-side analysts forecast that Interpublic Group of Companies will post 2.72 EPS for the current year.

Interpublic Group of Companies announced that its board has approved a stock repurchase plan on Thursday, February 10th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the business services provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

In related news, Director Mary Guilfoile sold 6,301 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $32.41, for a total transaction of $204,215.41. Following the completion of the transaction, the director now owns 102,803 shares in the company, valued at approximately $3,331,845.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jocelyn Carter-Miller acquired 6,764 shares of Interpublic Group of Companies stock in a transaction that occurred on Friday, April 29th. The shares were purchased at an average price of $33.26 per share, with a total value of $224,970.64. Following the purchase, the director now owns 44,714 shares in the company, valued at $1,487,187.64. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Disciplined Investments LLC acquired a new position in Interpublic Group of Companies during the 4th quarter valued at approximately $25,000. Core Alternative Capital acquired a new position in Interpublic Group of Companies during the 4th quarter valued at approximately $25,000. Tcwp LLC acquired a new position in Interpublic Group of Companies during the 1st quarter valued at approximately $32,000. Steward Partners Investment Advisory LLC increased its stake in Interpublic Group of Companies by 252.6% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,206 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 864 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its stake in Interpublic Group of Companies by 159.8% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,299 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 799 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Interpublic Group of Companies Company Profile (Get Rating)

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.

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