Pivotal Research Reiterates Hold Rating for Interpublic Group of Companies (IPG)

Interpublic Group of Companies (NYSE:IPG)‘s stock had its “hold” rating restated by stock analysts at Pivotal Research in a report released on Monday. They presently have a $26.00 price objective on the business services provider’s stock. Pivotal Research’s price target points to a potential upside of 5.26% from the stock’s previous close.

The analysts wrote, “We upgraded our recommendations on IPG, Publicis and WPP in August, October and November, respectively from Hold to Buy as each of these stocks over-reacted on the down-side because of a range of issues impacting the industry became pronounced concerns for investors. However, following relatively positive moves on the sector for IPG and Publicis, we see stocks in the sector as close enough to full valuations to warrant a downgrade at the present time. However, we continue to see relative value within the group, with relatively more upside for WPP and relatively more downside for Omnicom. Each of the four holding companies we cover are now rated Hold.””

A number of other research firms have also weighed in on IPG. Macquarie upgraded Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and set a $24.00 price target for the company in a research report on Friday, February 16th. Wells Fargo & Co reiterated a “hold” rating on shares of Interpublic Group of Companies in a research report on Wednesday, February 14th. Jefferies Group reiterated a “neutral” rating on shares of Interpublic Group of Companies in a research report on Thursday, February 15th. BMO Capital Markets increased their price target on Interpublic Group of Companies from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $26.00 price target on shares of Interpublic Group of Companies in a research report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $26.07.

Interpublic Group of Companies (NYSE:IPG) opened at $24.70 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.93 and a quick ratio of 0.93. Interpublic Group of Companies has a 1 year low of $18.30 and a 1 year high of $26.01. The firm has a market capitalization of $9,843.46, a price-to-earnings ratio of 16.80, a P/E/G ratio of 1.99 and a beta of 1.45.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Wednesday, February 14th. The business services provider reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.02. Interpublic Group of Companies had a return on equity of 27.80% and a net margin of 7.35%. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the company posted $0.81 EPS. Interpublic Group of Companies’s revenue for the quarter was up 3.4% on a year-over-year basis. research analysts expect that Interpublic Group of Companies will post 1.67 earnings per share for the current fiscal year.

Interpublic Group of Companies announced that its Board of Directors has approved a share buyback program on Wednesday, February 14th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently made changes to their positions in IPG. Ameritas Investment Partners Inc. raised its stake in shares of Interpublic Group of Companies by 1.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,123 shares of the business services provider’s stock worth $224,000 after purchasing an additional 90 shares in the last quarter. Sentry Investment Management LLC raised its stake in shares of Interpublic Group of Companies by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 21,099 shares of the business services provider’s stock worth $519,000 after purchasing an additional 225 shares in the last quarter. Buckingham Capital Management Inc. raised its stake in shares of Interpublic Group of Companies by 13.4% during the 3rd quarter. Buckingham Capital Management Inc. now owns 20,075 shares of the business services provider’s stock worth $417,000 after purchasing an additional 2,370 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Interpublic Group of Companies by 13.1% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 23,682 shares of the business services provider’s stock worth $492,000 after purchasing an additional 2,740 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Interpublic Group of Companies by 15.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,515 shares of the business services provider’s stock worth $414,000 after purchasing an additional 2,792 shares in the last quarter. Hedge funds and other institutional investors 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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