Interpublic Group of Companies (NYSE:IPG) Raised to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Interpublic Group of Companies (NYSE:IPG) from an underweight rating to an equal weight rating in a report issued on Tuesday morning, Marketbeat Ratings reports. The firm currently has $34.00 target price on the business services provider’s stock, up from their prior target price of $26.00.

A number of other equities research analysts have also recently commented on IPG. Barclays reduced their price target on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Macquarie reaffirmed a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. BNP Paribas lowered shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $34.00 to $29.00 in a research note on Thursday, September 12th. Finally, StockNews.com raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.71.

Interpublic Group of Companies Trading Up 0.4 %

Shares of NYSE IPG opened at $30.41 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. Interpublic Group of Companies has a 52-week low of $26.88 and a 52-week high of $35.17. The firm has a 50 day moving average price of $30.12 and a two-hundred day moving average price of $30.40. The stock has a market cap of $11.33 billion, a P/E ratio of 14.34 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share 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 7.44% and a return on equity of 27.76%. Interpublic Group of Companies’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 earnings per share. As a group, equities analysts forecast that Interpublic Group of Companies will post 2.82 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 4.34%. Interpublic Group of Companies’s payout ratio is presently 62.26%.

Institutional Investors Weigh In On Interpublic Group of Companies

A number of hedge funds have recently made changes to their positions in the business. Catalyst Capital Advisors LLC bought a new stake in Interpublic Group of Companies during the 3rd quarter valued at $26,000. Benjamin Edwards Inc. increased its position in Interpublic Group of Companies by 73.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 375 shares during the period. Ashton Thomas Securities LLC purchased a new position in Interpublic Group of Companies during the 3rd quarter valued at $32,000. Hazlett Burt & Watson Inc. grew its position in shares of Interpublic Group of Companies by 652.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after buying an additional 900 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Interpublic Group of Companies in the 2nd quarter worth about $32,000. 98.43% of the stock is currently owned by 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.