Interpublic Group of Companies (IPG) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Interpublic Group of Companies (NYSE:IPG) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. They currently have $27.00 price target on the business services provider’s stock.

According to Zacks, “Interpublic’s digital capabilities, diversified business model and geographic reach offer a distinctive competitive advantage. The company’s first-quarter 2018 adjusted earnings declined year over year but revenues increased. Interpublic continues to look for strategic investments and buyouts to expand in high-growth regions and key world markets. The company’s efforts in reducing costs, continuous margin improvement, stronger balance sheet and better capital structure should improve its profitability. Interpublic also outperformed the industry in the six three months. However, Interpublic is likely to be stifled by the renegotiated deals and restrictions imposed on trade with other European Union members post the Brexit referendum, lowering its productivity.”

Several other equities research analysts have also commented on IPG. Wells Fargo restated a hold rating and set a $26.00 target price on shares of Interpublic Group of Companies in a research report on Monday, April 30th. Morgan Stanley boosted their target price on shares of Interpublic Group of Companies to $23.00 and gave the stock an equal weight rating in a research report on Wednesday, January 31st. Bank of America lowered shares of Interpublic Group of Companies from a neutral rating to an underperform rating in a research report on Thursday, January 25th. BMO Capital Markets boosted their target price on shares of Interpublic Group of Companies from $25.00 to $27.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. Finally, Atlantic Securities upgraded shares of Interpublic Group of Companies from an underweight rating to a neutral rating in a research report on Friday, March 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $25.82.

Shares of Interpublic Group of Companies opened at $23.77 on Wednesday, according to Marketbeat. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 2.06 and a beta of 1.30. Interpublic Group of Companies has a one year low of $18.30 and a one year high of $26.01. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.95 and a current ratio of 0.95.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Friday, April 27th. The business services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Interpublic Group of Companies had a return on equity of 26.05% and a net margin of 6.55%. Interpublic Group of Companies’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share. analysts forecast that Interpublic Group of Companies will post 1.75 EPS for the current year.

Interpublic Group of Companies declared that its board has initiated a stock repurchase program on Wednesday, February 14th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

In other news, SVP Andrew Bonzani sold 28,627 shares of Interpublic Group of Companies stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $23.46, for a total transaction of $671,589.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Guilfoile sold 8,392 shares of Interpublic Group of Companies stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $24.04, for a total value of $201,743.68. The disclosure for this sale can be found here. Insiders have sold a total of 490,223 shares of company stock valued at $11,575,541 in the last ninety days. Corporate insiders own 1.49% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Interpublic Group of Companies by 34.5% in the 1st quarter. BlackRock Inc. now owns 53,669,637 shares of the business services provider’s stock valued at $1,236,011,000 after purchasing an additional 13,763,034 shares during the last quarter. Pzena Investment Management LLC raised its stake in Interpublic Group of Companies by 99.2% in the 4th quarter. Pzena Investment Management LLC now owns 17,855,163 shares of the business services provider’s stock valued at $359,960,000 after purchasing an additional 8,890,439 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in Interpublic Group of Companies in the 1st quarter valued at about $57,763,000. Wells Fargo & Company MN raised its stake in Interpublic Group of Companies by 32.7% in the 4th quarter. Wells Fargo & Company MN now owns 9,620,910 shares of the business services provider’s stock valued at $193,957,000 after purchasing an additional 2,370,784 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its stake in Interpublic Group of Companies by 119.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 4,179,701 shares of the business services provider’s stock valued at $84,262,000 after purchasing an additional 2,270,953 shares during the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Company Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.

Get a free copy of the Zacks research report on Interpublic Group of Companies (IPG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Interpublic Group of Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interpublic Group of Companies and related companies with MarketBeat.com's FREE daily email newsletter.




Leave a Reply