Interpublic Group of Companies (NYSE:IPG) Stock Rating Upgraded by JPMorgan Chase & Co.

Interpublic Group of Companies (NYSE:IPG) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Monday, MarketBeat.com reports. The firm presently has a $39.00 price objective on the business services provider’s stock, up from their previous price objective of $32.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 36.61% from the stock’s current price.

Several other equities research analysts have also issued reports on IPG. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research note on Monday, January 20th. They set a “hold” rating on the stock. Macquarie reiterated a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $32.00 to $36.00 in a research report on Friday. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. Finally, BNP Paribas raised shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target for the company in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $33.75.

Interpublic Group of Companies Stock Performance

Shares of IPG stock opened at $28.55 on Monday. The stock has a market cap of $10.63 billion, a PE ratio of 13.47 and a beta of 1.11. Interpublic Group of Companies has a 52-week low of $26.30 and a 52-week high of $35.17. The business has a 50-day simple moving average of $28.76 and a 200-day simple moving average of $30.04. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

Institutional Investors Weigh In On Interpublic Group of Companies

Large investors have recently added to or reduced their stakes in the business. State Street Corp boosted its position in Interpublic Group of Companies by 15.1% in the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after buying an additional 3,920,975 shares during the period. Integrated Wealth Concepts LLC grew its stake in Interpublic Group of Companies by 240.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 28,862 shares of the business services provider’s stock worth $913,000 after purchasing an additional 20,395 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Interpublic Group of Companies by 2,679.9% during the 3rd quarter. International Assets Investment Management LLC now owns 30,523 shares of the business services provider’s stock worth $965,000 after purchasing an additional 29,425 shares during the period. ING Groep NV acquired a new stake in Interpublic Group of Companies in the 3rd quarter valued at about $1,589,000. Finally, Bridgewater Associates LP boosted its stake in shares of Interpublic Group of Companies by 956.5% in the 3rd quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider’s stock valued at $3,313,000 after buying an additional 94,821 shares during the period. 98.43% of the stock is owned by hedge funds and other institutional investors.

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.