Interpublic Group of Companies (NYSE:IPG) Rating Lowered to Neutral at JPMorgan Chase & Co.

Interpublic Group of Companies (NYSE:IPG) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Tuesday, MarketBeat.com reports. They currently have a $33.00 price objective on the business services provider’s stock, down from their prior price objective of $36.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 6.21% from the company’s previous close.

Other analysts also recently issued research reports about the company. Barclays decreased their target price on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Macquarie reduced their price objective on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Bank of America lowered their price objective on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Morgan Stanley cut shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $34.00 to $28.00 in a research note on Monday, July 22nd. Finally, UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.44.

Interpublic Group of Companies Stock Down 0.5 %

Shares of IPG stock opened at $31.07 on Tuesday. The stock’s 50 day simple moving average is $31.24 and its 200 day simple moving average is $30.88. Interpublic Group of Companies has a twelve month low of $27.20 and a twelve month high of $35.17. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.07. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 5.23 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, research analysts predict that Interpublic Group of Companies will post 2.82 EPS for the current year.

Hedge Funds Weigh In On Interpublic Group of Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in IPG. BNP Paribas Financial Markets raised its position in Interpublic Group of Companies by 15.0% in the first quarter. BNP Paribas Financial Markets now owns 989,318 shares of the business services provider’s stock worth $32,281,000 after purchasing an additional 129,215 shares in the last quarter. Alaska Permanent Fund Corp lifted its position in shares of Interpublic Group of Companies by 305.6% during the 1st quarter. Alaska Permanent Fund Corp now owns 54,129 shares of the business services provider’s stock worth $1,766,000 after buying an additional 40,785 shares during the period. Boston Trust Walden Corp boosted its stake in Interpublic Group of Companies by 3.0% in the 2nd quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock valued at $34,532,000 after buying an additional 34,965 shares in the last quarter. Tidal Investments LLC grew its position in Interpublic Group of Companies by 68.0% in the first quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider’s stock valued at $3,949,000 after acquiring an additional 48,996 shares during the period. Finally, SG Americas Securities LLC grew its position in Interpublic Group of Companies by 176.5% in the second quarter. SG Americas Securities LLC now owns 254,498 shares of the business services provider’s stock valued at $7,403,000 after acquiring an additional 162,468 shares during the period. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Company Profile

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.