Interpublic Group of Companies (NYSE:IPG) Cut to “Sell” at StockNews.com

Interpublic Group of Companies (NYSE:IPG) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Several other research firms have also recently commented on IPG. Bank of America cut their target price on 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. BNP Paribas cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Monday, September 30th. Wells Fargo & Company restated an “underweight” rating and issued a $26.00 price target (down from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday. Morgan Stanley downgraded 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 report 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 target price for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.75.

Interpublic Group of Companies Price Performance

IPG stock traded up $0.26 during midday trading on Wednesday, reaching $30.04. 6,388,956 shares of the company’s stock traded hands, compared to its average volume of 3,947,035. The company has a 50-day simple moving average of $31.39 and a two-hundred day simple moving average of $30.75. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75. Interpublic Group of Companies has a 1-year low of $27.54 and a 1-year high of $35.17. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 5.18 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. Interpublic Group of Companies’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 EPS. On average, analysts anticipate that Interpublic Group of Companies will post 2.83 earnings per share 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. Millennium Management LLC increased its holdings in shares of Interpublic Group of Companies by 571.7% during the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock worth $42,657,000 after buying an additional 1,248,062 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Interpublic Group of Companies by 19.8% in the second quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock valued at $158,157,000 after purchasing an additional 899,332 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Interpublic Group of Companies by 101.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider’s stock valued at $55,162,000 after purchasing an additional 853,287 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Interpublic Group of Companies by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after purchasing an additional 828,150 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Interpublic Group of Companies in the first quarter valued at approximately $20,493,000. Institutional investors 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.