Interpublic Group of Companies (NYSE:IPG) Upgraded to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies (NYSE:IPG) from a neutral rating to an overweight rating in a report issued on Monday, Marketbeat reports. The firm currently has $39.00 target price on the business services provider’s stock, up from their previous target price of $32.00.

A number of other research firms have also recently weighed in on IPG. Macquarie reaffirmed a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price for the company in a research note on Friday, January 10th. Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $32.00 to $36.00 in a report on Friday, January 24th. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. Finally, StockNews.com began coverage on Interpublic Group of Companies in a report on Monday, January 20th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.75.

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG opened at $28.84 on Monday. 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 one year low of $26.30 and a one year high of $35.17. The company has a 50-day simple moving average of $28.82 and a 200-day simple moving average of $30.05. The stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of 13.60 and a beta of 1.11.

Institutional Investors Weigh In On Interpublic Group of Companies

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp raised its holdings in Interpublic Group of Companies by 15.1% during the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock worth $943,993,000 after purchasing an additional 3,920,975 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Interpublic Group of Companies by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,426,923 shares of the business services provider’s stock worth $393,064,000 after buying an additional 270,857 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Interpublic Group of Companies by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 9,449,534 shares of the business services provider’s stock worth $298,107,000 after buying an additional 81,265 shares in the last quarter. Pacer Advisors Inc. grew its stake in Interpublic Group of Companies by 25,637.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock valued at $207,439,000 after acquiring an additional 7,374,491 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Interpublic Group of Companies by 10.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,402,349 shares of the business services provider’s stock valued at $139,246,000 after acquiring an additional 417,741 shares in the last quarter. Institutional investors and hedge funds 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.