JPMorgan Chase & Co. Lowers Interpublic Group of Companies (NYSE:IPG) Price Target to $24.00

Interpublic Group of Companies (NYSE:IPG) had its price objective lowered by research analysts at JPMorgan Chase & Co. from $29.00 to $24.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 57.79% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. ValuEngine raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. TheStreet cut Interpublic Group of Companies from a “b-” rating to a “c+” rating in a report on Thursday, March 19th. Finally, Cfra boosted their target price on Interpublic Group of Companies from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Interpublic Group of Companies presently has an average rating of “Hold” and a consensus price target of $25.20.

IPG stock traded down $1.43 during midday trading on Wednesday, reaching $15.21. The company had a trading volume of 6,300,721 shares, compared to its average volume of 7,491,272. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.49. The stock has a 50 day moving average price of $20.28 and a 200 day moving average price of $21.71. Interpublic Group of Companies has a fifty-two week low of $11.63 and a fifty-two week high of $25.20. The firm has a market capitalization of $6.45 billion, a PE ratio of 9.11, a P/E/G ratio of 1.98 and a beta of 1.00.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, February 12th. The business services provider reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.05. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.42 billion. Interpublic Group of Companies had a return on equity of 29.83% and a net margin of 6.42%. Interpublic Group of Companies’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. Research analysts predict that Interpublic Group of Companies will post 1.7 EPS for the current year.

In other news, CEO Michael Isor Roth sold 159,105 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $21.27, for a total transaction of $3,384,163.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jocelyn Carter-Miller sold 9,767 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $23.71, for a total transaction of $231,575.57. The disclosure for this sale can be found here. Insiders own 1.09% of the company’s stock.

Large investors have recently modified their holdings of the stock. Advisors Preferred LLC bought a new stake in Interpublic Group of Companies in the fourth quarter worth $27,000. Citizens Financial Group Inc RI lifted its position in Interpublic Group of Companies by 1,031.7% during the 4th quarter. Citizens Financial Group Inc RI now owns 1,856 shares of the business services provider’s stock worth $43,000 after acquiring an additional 1,692 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in Interpublic Group of Companies by 188.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 2,029 shares of the business services provider’s stock worth $47,000 after acquiring an additional 1,325 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new position in Interpublic Group of Companies during the 4th quarter worth $53,000. Finally, Allred Capital Management LLC acquired a new position in Interpublic Group of Companies during the 4th quarter worth $66,000. Hedge funds and other institutional investors own 96.92% of the company’s stock.

Interpublic Group of Companies Company Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.

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