Interpublic Group of Companies (NYSE:IPG) Now Covered by Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Interpublic Group of Companies (NYSE:IPG) in a report issued on Friday. The brokerage set a “hold” rating on the business services provider’s stock.

IPG has been the topic of a number of other reports. Citigroup reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research report on Friday, January 10th. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $32.00 to $36.00 in a report on Friday, January 24th. Finally, Argus downgraded Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $33.67.

Interpublic Group of Companies Trading Up 2.8 %

Shares of Interpublic Group of Companies stock opened at $23.91 on Friday. The firm’s 50 day moving average is $26.11 and its 200 day moving average is $28.15. The firm has a market capitalization of $8.91 billion, a PE ratio of 13.07 and a beta of 1.01. Interpublic Group of Companies has a 1 year low of $22.51 and a 1 year high of $33.05. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.04). Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. Equities research analysts forecast that Interpublic Group of Companies will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies declared that its board has initiated a share repurchase program on Wednesday, February 12th that permits the company to repurchase $155.00 million in shares. This repurchase authorization permits the business services provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the transaction, the chief financial officer now directly owns 143,373 shares in the company, valued at $3,845,263.86. This trade represents a 13.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board lifted its position in shares of Interpublic Group of Companies by 139.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider’s stock worth $370,157,000 after purchasing an additional 7,693,636 shares during the period. Pacer Advisors Inc. lifted its holdings in Interpublic Group of Companies by 25,637.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock worth $207,439,000 after buying an additional 7,374,491 shares during the period. Amundi boosted its position in Interpublic Group of Companies by 133.6% during the 4th quarter. Amundi now owns 5,402,201 shares of the business services provider’s stock valued at $150,393,000 after acquiring an additional 3,089,387 shares in the last quarter. Magnetar Financial LLC raised its position in shares of Interpublic Group of Companies by 12,548.6% in the 4th quarter. Magnetar Financial LLC now owns 2,425,247 shares of the business services provider’s stock worth $67,955,000 after acquiring an additional 2,406,073 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Interpublic Group of Companies during the 4th quarter worth $51,794,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

About Interpublic Group of Companies

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.