Wells Fargo & Company Lowers Interpublic Group of Companies (NYSE:IPG) Price Target to $31.00

Interpublic Group of Companies (NYSE:IPG - Get Free Report) had its price target lowered by investment analysts at Wells Fargo & Company from $32.00 to $31.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an "equal weight" rating on the business services provider's stock. Wells Fargo & Company's price objective would suggest a potential downside of 0.51% from the stock's previous close.

IPG has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their target price on Interpublic Group of Companies from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, February 9th. Barclays upped their target price on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Monday, January 29th. Finally, UBS Group initiated coverage on shares of Interpublic Group of Companies in a research report on Thursday, January 11th. They set a "neutral" rating and a $36.00 price target for the company. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Interpublic Group of Companies has a consensus rating of "Hold" and a consensus price target of $35.13.

Interpublic Group of Companies Price Performance

IPG traded down $0.24 during midday trading on Thursday, hitting $31.16. The company had a trading volume of 5,301,922 shares, compared to its average volume of 4,084,582. Interpublic Group of Companies has a twelve month low of $27.20 and a twelve month high of $40.95. The firm's 50-day simple moving average is $31.91 and its 200-day simple moving average is $31.35. The company has a market capitalization of $11.76 billion, a PE ratio of 10.93, a P/E/G ratio of 2.13 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.06 and a current ratio of 1.06.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. Interpublic Group of Companies had a net margin of 10.09% and a return on equity of 30.52%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the business posted $0.38 earnings per share. Interpublic Group of Companies's revenue for the quarter was down 1.0% compared to the same quarter last year. Equities research analysts predict that Interpublic Group of Companies will post 2.77 EPS for the current fiscal year.

Insider Activity at Interpublic Group of Companies

In related news, CAO Christopher F. Carroll sold 18,382 shares of the company's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $591,900.40. Following the completion of the sale, the chief accounting officer now owns 42,390 shares in the company, valued at approximately $1,364,958. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Interpublic Group of Companies news, CEO Philippe Krakowsky sold 150,403 shares of Interpublic Group of Companies stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $4,842,976.60. Following the transaction, the chief executive officer now owns 415,776 shares of the company's stock, valued at $13,387,987.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Christopher F. Carroll sold 18,382 shares of the company's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $591,900.40. Following the completion of the transaction, the chief accounting officer now owns 42,390 shares of the company's stock, valued at approximately $1,364,958. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 249,646 shares of company stock worth $8,038,601. 0.42% of the stock is currently owned by company insiders.

Institutional Investors 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. Marino Stram & Associates LLC increased its holdings in Interpublic Group of Companies by 1.2% during the 4th quarter. Marino Stram & Associates LLC now owns 26,654 shares of the business services provider's stock worth $870,000 after purchasing an additional 315 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of Interpublic Group of Companies by 4.6% during the 4th quarter. Bleakley Financial Group LLC now owns 7,364 shares of the business services provider's stock worth $240,000 after acquiring an additional 327 shares in the last quarter. Simplicity Solutions LLC raised its holdings in shares of Interpublic Group of Companies by 4.6% in the fourth quarter. Simplicity Solutions LLC now owns 7,364 shares of the business services provider's stock valued at $240,000 after purchasing an additional 327 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its position in shares of Interpublic Group of Companies by 3.3% in the first quarter. Legacy Wealth Asset Management LLC now owns 10,923 shares of the business services provider's stock worth $356,000 after purchasing an additional 347 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in Interpublic Group of Companies by 27.5% during the fourth quarter. Assetmark Inc. now owns 1,706 shares of the business services provider's stock worth $56,000 after purchasing an additional 368 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

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.