Interpublic Group of Companies (NYSE:IPG) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research has downgraded Interpublic Group of Companies (NYSE:IPG) from a "strong-buy" rating to a "hold" rating.
• The company reported earnings per share of $0.75, surpassing analysts' expectations, despite a 6.6% decline in revenue compared to the previous year.
• Institutional investors and hedge funds own 98.43% of Interpublic's stock, highlighting significant interest from large financial entities.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on IPG. Wall Street Zen raised Interpublic Group of Companies to a "hold" rating in a report on Saturday, August 16th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Interpublic Group of Companies in a report on Wednesday, October 8th. Barclays lifted their target price on Interpublic Group of Companies from $27.50 to $28.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 7th. UBS Group reduced their price target on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. reduced their price target on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $32.09.

Interpublic Group of Companies Stock Up 2.5%

Shares of IPG opened at $26.77 on Monday. The company has a market cap of $9.81 billion, a PE ratio of 22.69 and a beta of 1.09. The business has a fifty day moving average of $26.37 and a 200 day moving average of $25.16. Interpublic Group of Companies has a 52-week low of $22.51 and a 52-week high of $33.05. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.20. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the firm posted $0.61 earnings per share. The business's revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts expect that Interpublic Group of Companies will post 2.66 EPS for the current year.

Hedge Funds Weigh In On Interpublic Group of Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board raised its holdings in shares of Interpublic Group of Companies by 6.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 14,819,997 shares of the business services provider's stock worth $362,794,000 after acquiring an additional 934,613 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Interpublic Group of Companies by 1.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 13,998,667 shares of the business services provider's stock worth $342,687,000 after acquiring an additional 217,212 shares during the period. Invesco Ltd. raised its holdings in shares of Interpublic Group of Companies by 3.5% during the 2nd quarter. Invesco Ltd. now owns 10,610,766 shares of the business services provider's stock worth $259,752,000 after acquiring an additional 360,987 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Interpublic Group of Companies by 49.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider's stock worth $231,138,000 after acquiring an additional 2,797,490 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Interpublic Group of Companies during the 2nd quarter worth $143,727,000. Institutional investors and hedge funds own 98.43% of the company's stock.

About Interpublic Group of Companies

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.

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