Wells Fargo & Co Lowers Interpublic Group of Companies (IPG) to Market Perform

Interpublic Group of Companies (NYSE:IPG) was downgraded by research analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a report released on Thursday.

Several other equities analysts also recently commented on IPG. Zacks Investment Research upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Royal Bank of Canada reiterated a “hold” rating on shares of Interpublic Group of Companies in a report on Friday, September 29th. Credit Suisse Group set a $26.00 price target on shares of Interpublic Group of Companies and gave the company a “buy” rating in a report on Wednesday, October 11th. Morgan Stanley reiterated a “hold” rating on shares of Interpublic Group of Companies in a report on Monday, October 16th. Finally, Pivotal Research reiterated a “buy” rating and set a $23.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $25.77.

Shares of Interpublic Group of Companies (IPG) opened at $21.58 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.63. The stock has a market cap of $8,246.27, a PE ratio of 14.99, a PEG ratio of 1.28 and a beta of 1.47. Interpublic Group of Companies has a 1 year low of $18.30 and a 1 year high of $25.71.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Tuesday, October 24th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.02). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Interpublic Group of Companies had a net margin of 7.43% and a return on equity of 27.38%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 earnings per share. sell-side analysts anticipate that Interpublic Group of Companies will post 1.39 earnings per share for the current fiscal year.

In other Interpublic Group of Companies news, Director H John Greeniaus sold 43,479 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $19.00, for a total value of $826,101.00. The sale was disclosed in a filing with the SEC, which is available through this link. 1.49% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of IPG. Wells Fargo & Company MN grew its stake in Interpublic Group of Companies by 159.5% in the 3rd quarter. Wells Fargo & Company MN now owns 7,250,126 shares of the business services provider’s stock worth $150,730,000 after acquiring an additional 4,455,788 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Interpublic Group of Companies by 9,649.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,442,846 shares of the business services provider’s stock worth $50,787,000 after acquiring an additional 2,417,789 shares in the last quarter. Janus Henderson Group PLC grew its stake in Interpublic Group of Companies by 4,195.7% in the 2nd quarter. Janus Henderson Group PLC now owns 1,815,832 shares of the business services provider’s stock worth $44,669,000 after acquiring an additional 1,773,561 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Interpublic Group of Companies by 21.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 8,547,989 shares of the business services provider’s stock worth $210,280,000 after acquiring an additional 1,503,316 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Interpublic Group of Companies by 34.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,683,391 shares of the business services provider’s stock worth $118,158,000 after acquiring an additional 1,442,288 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

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About Interpublic Group of Companies

The Interpublic Group of Companies, Inc is a global advertising and marketing services company. The Company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates in two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

Analyst Recommendations for Interpublic Group of Companies (NYSE:IPG)

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