Interpublic Group of Companies (NYSE:IPG) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Interpublic Group of Companies (NYSE:IPG) in a research note released on Tuesday morning. The brokerage issued a hold rating on the business services provider’s stock.

A number of other equities research analysts have also issued reports on IPG. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $32.00 to $36.00 in a research report on Friday, January 24th. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target on the stock in a report on Friday, January 10th. Macquarie reaffirmed a “neutral” rating and set a $31.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $32.00 to $39.00 in a research note on Monday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and an average price target of $33.75.

Interpublic Group of Companies Price Performance

Shares of IPG opened at $28.72 on Tuesday. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of 13.54 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s fifty day moving average is $28.83 and its 200-day moving average is $30.04. Interpublic Group of Companies has a one year low of $26.30 and a one year high of $35.17.

Institutional Investors Weigh In On Interpublic Group of Companies

Several large investors have recently made changes to their positions in IPG. Public Sector Pension Investment Board increased its holdings in shares of Interpublic Group of Companies by 65.4% in the second quarter. Public Sector Pension Investment Board now owns 14,471 shares of the business services provider’s stock valued at $421,000 after purchasing an additional 5,724 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Interpublic Group of Companies by 45.9% during the 2nd quarter. AQR Capital Management LLC now owns 209,173 shares of the business services provider’s stock valued at $6,085,000 after acquiring an additional 65,759 shares during the period. APG Asset Management N.V. boosted its position in shares of Interpublic Group of Companies by 227.7% during the 2nd quarter. APG Asset Management N.V. now owns 46,053 shares of the business services provider’s stock worth $1,250,000 after acquiring an additional 32,000 shares in the last quarter. MBB Public Markets I LLC acquired a new stake in shares of Interpublic Group of Companies in the 2nd quarter valued at $831,000. Finally, Millennium Management LLC grew its position in Interpublic Group of Companies by 571.7% in the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock valued at $42,657,000 after acquiring an additional 1,248,062 shares during 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.