Interpublic Group of Companies (NYSE:IPG) Given New $39.00 Price Target at JPMorgan Chase & Co.

Interpublic Group of Companies (NYSE:IPG – Get Rating) had its price objective raised by JPMorgan Chase & Co. from $38.00 to $39.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.

IPG has been the topic of a number of other research reports. Bank of America raised Interpublic Group of Companies from an underperform rating to a neutral rating and raised their target price for the company from $22.00 to $36.00 in a report on Thursday, January 5th. Morgan Stanley raised their price objective on shares of Interpublic Group of Companies from $33.00 to $35.00 and gave the stock an equal weight rating in a research note on Monday, December 19th. Finally, StockNews.com started coverage on shares of Interpublic Group of Companies in a research note on Wednesday, October 12th. They set a hold rating for the company. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Interpublic Group of Companies has an average rating of Moderate Buy and a consensus price target of $36.50.

Interpublic Group of Companies Stock Performance

Shares of NYSE IPG opened at $36.51 on Monday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $14.19 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 3.63 and a beta of 1.08. The business’s 50-day simple moving average is $33.92 and its 200-day simple moving average is $30.43. Interpublic Group of Companies has a 52 week low of $25.14 and a 52 week high of $39.98.

Interpublic Group of Companies (NYSE:IPG – Get Rating) last issued its quarterly earnings data on Friday, October 21st. The business services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.29 billion. Interpublic Group of Companies had a return on equity of 28.78% and a net margin of 9.18%. As a group, equities research analysts expect that Interpublic Group of Companies will post 2.74 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.18%. The ex-dividend date was Wednesday, November 30th. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.03%.

Institutional Investors Weigh In On Interpublic Group of Companies

Large investors have recently modified their holdings of the stock. HighTower Trust Company N.A. bought a new stake in Interpublic Group of Companies in the third quarter valued at $234,000. Patron Partners LLC increased its position in shares of Interpublic Group of Companies by 11.1% during the 3rd quarter. Patron Partners LLC now owns 12,606 shares of the business services provider’s stock worth $323,000 after purchasing an additional 1,260 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in Interpublic Group of Companies by 5.1% during the 2nd quarter. Raymond James Trust N.A. now owns 19,255 shares of the business services provider’s stock valued at $530,000 after purchasing an additional 930 shares during the last quarter. Mutual Advisors LLC boosted its position in Interpublic Group of Companies by 18.8% in the second quarter. Mutual Advisors LLC now owns 22,861 shares of the business services provider’s stock valued at $629,000 after buying an additional 3,623 shares in the last quarter. Finally, PFS Investments Inc. grew its stake in Interpublic Group of Companies by 8.8% during the second quarter. PFS Investments Inc. now owns 219,223 shares of the business services provider’s stock worth $6,035,000 after buying an additional 17,751 shares during the last quarter. 96.75% of the stock is currently owned by institutional investors.

About Interpublic Group of Companies

(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.