Equities research analysts at JPMorgan Chase & Co. began coverage on shares of Interpublic Group of Companies (NYSE:IPG) in a research note issued to investors on Thursday, The Fly reports. The firm set an “overweight” rating on the business services provider’s stock.
IPG has been the topic of several other research reports. Macquarie upgraded Interpublic Group of Companies from a “neutral” rating to an “outperform” rating and increased their price target for the company from $24.00 to $25.00 in a report on Thursday, September 20th. Royal Bank of Canada upgraded Interpublic Group of Companies from a “sector perform” rating to an “outperform” rating in a report on Wednesday, July 25th. Moffett Nathanson started coverage on Interpublic Group of Companies in a report on Tuesday, June 19th. They set a “neutral” rating and a $23.00 price target on the stock. Zacks Investment Research upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, ValuEngine downgraded Interpublic Group of Companies from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $25.20.
NYSE:IPG opened at $21.94 on Thursday. Interpublic Group of Companies has a 52 week low of $18.30 and a 52 week high of $26.01. The company has a market capitalization of $8.78 billion, a P/E ratio of 15.56, a PEG ratio of 1.73 and a beta of 1.17. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.94 and a current ratio of 0.94.
In other news, CFO Frank Mergenthaler sold 50,000 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $22.46, for a total value of $1,123,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.32% of the company’s stock.
Several institutional investors have recently made changes to their positions in IPG. LifePlan Financial Group Inc acquired a new stake in shares of Interpublic Group of Companies in the second quarter worth $187,000. Franklin Resources Inc. acquired a new stake in shares of Interpublic Group of Companies in the first quarter worth $203,000. Lourd Capital LLC bought a new position in Interpublic Group of Companies in the third quarter worth $203,000. Rampart Investment Management Company LLC lifted its position in Interpublic Group of Companies by 117.4% in the first quarter. Rampart Investment Management Company LLC now owns 11,391 shares of the business services provider’s stock worth $262,000 after purchasing an additional 6,151 shares during the period. Finally, Nuveen Asset Management LLC bought a new position in Interpublic Group of Companies in the first quarter worth $281,000. Institutional investors and hedge funds own 99.76% of the company’s stock.
About Interpublic Group of Companies
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.
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