Wells Fargo & Company Cuts Interpublic Group of Companies (NYSE:IPG) Price Target to $31.00

Interpublic Group of Companies (NYSE:IPG) had its price target cut by stock analysts at Wells Fargo & Company from $32.00 to $31.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 0.55% from the company’s current price.

Several other research analysts have also issued reports on IPG. JPMorgan Chase & Co. dropped their price objective on Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Barclays increased their price objective on Interpublic Group of Companies from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Finally, UBS Group started coverage on Interpublic Group of Companies in a research note on Thursday, January 11th. They set a “neutral” rating and a $36.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $35.13.

Interpublic Group of Companies Stock Performance

Shares of IPG traded down $0.57 during mid-day trading on Thursday, hitting $30.83. The company’s stock had a trading volume of 1,008,124 shares, compared to its average volume of 4,028,389. Interpublic Group of Companies has a one year low of $27.20 and a one year high of $40.95. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $11.63 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 2.13 and a beta of 1.13. The stock’s 50-day moving average is $31.94 and its two-hundred day moving average is $31.35.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, April 24th. The business services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Interpublic Group of Companies had a return on equity of 30.52% and a net margin of 10.09%. Interpublic Group of Companies’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the business earned $0.38 earnings per share. As a group, sell-side analysts anticipate that Interpublic Group of Companies will post 2.77 EPS for the current year.

Insider Buying and Selling

In other Interpublic Group of Companies news, CAO Christopher F. Carroll sold 18,382 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $591,900.40. Following the transaction, the chief accounting officer now owns 42,390 shares in the company, valued at $1,364,958. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Christopher F. Carroll sold 18,382 shares of Interpublic Group of Companies stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $591,900.40. Following the transaction, the chief accounting officer now owns 42,390 shares in the company, valued at approximately $1,364,958. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Philippe Krakowsky sold 150,403 shares of Interpublic Group of Companies stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $4,842,976.60. Following the transaction, the chief executive officer now owns 415,776 shares in the company, valued at approximately $13,387,987.20. The disclosure for this sale can be found here. Insiders sold a total of 249,646 shares of company stock worth $8,038,601 over the last three months. 0.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Interpublic Group of Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of IPG. IFP Advisors Inc raised its position in Interpublic Group of Companies by 49.2% in the 3rd quarter. IFP Advisors Inc now owns 7,911 shares of the business services provider’s stock valued at $227,000 after buying an additional 2,609 shares during the last quarter. Czech National Bank raised its position in Interpublic Group of Companies by 47.2% in the 3rd quarter. Czech National Bank now owns 67,278 shares of the business services provider’s stock valued at $1,928,000 after buying an additional 21,579 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Interpublic Group of Companies by 2.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 179,907 shares of the business services provider’s stock valued at $5,156,000 after buying an additional 4,892 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Interpublic Group of Companies by 7.4% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 118,987 shares of the business services provider’s stock worth $3,409,000 after purchasing an additional 8,200 shares during the last quarter. Finally, HGK Asset Management Inc. increased its position in shares of Interpublic Group of Companies by 46.0% during the 3rd quarter. HGK Asset Management Inc. now owns 170,637 shares of the business services provider’s stock worth $4,890,000 after purchasing an additional 53,775 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.