Interpublic Group of Companies (NYSE:IPG) Price Target Cut to $33.00 by Analysts at JPMorgan Chase & Co.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) had its price objective reduced by investment analysts at JPMorgan Chase & Co. from $35.00 to $33.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the business services provider's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 32.11% from the company's current price.

IPG has been the subject of a number of other research reports. Barclays downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. Wall Street Zen initiated coverage on shares of Interpublic Group of Companies in a research note on Tuesday, May 20th. They set a "hold" rating for the company. Finally, Citigroup reaffirmed a "buy" rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $32.06.

Interpublic Group of Companies Trading Up 1.2%

IPG stock traded up $0.29 during trading on Thursday, reaching $24.98. The company had a trading volume of 6,189,384 shares, compared to its average volume of 5,893,205. Interpublic Group of Companies has a 52 week low of $22.51 and a 52 week high of $33.05. The company has a market cap of $9.24 billion, a P/E ratio of 19.07 and a beta of 1.05. The business has a 50 day moving average of $24.36 and a 200 day moving average of $25.92. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. Interpublic Group of Companies had a net margin of 4.69% and a return on equity of 27.21%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. Interpublic Group of Companies's revenue was down 6.9% on a year-over-year basis. As a group, sell-side analysts forecast that Interpublic Group of Companies will post 2.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Interpublic Group of Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in IPG. Brooklyn Investment Group lifted its stake in shares of Interpublic Group of Companies by 20.0% during the 1st quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider's stock valued at $64,000 after buying an additional 391 shares in the last quarter. Prosperity Consulting Group LLC lifted its stake in shares of Interpublic Group of Companies by 2.3% during the 4th quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider's stock valued at $595,000 after buying an additional 470 shares in the last quarter. Penserra Capital Management LLC lifted its stake in Interpublic Group of Companies by 3.8% in the 1st quarter. Penserra Capital Management LLC now owns 15,102 shares of the business services provider's stock worth $410,000 after purchasing an additional 552 shares in the last quarter. Diversified Trust Co lifted its stake in Interpublic Group of Companies by 0.5% in the 1st quarter. Diversified Trust Co now owns 119,908 shares of the business services provider's stock worth $3,257,000 after purchasing an additional 572 shares in the last quarter. Finally, GeoWealth Management LLC lifted its stake in Interpublic Group of Companies by 20.7% in the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock worth $94,000 after purchasing an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.