Interpublic Group of Companies (NYSE:IPG) Stock Price Down 4.3% – What’s Next?

The Interpublic Group of Companies, Inc. (NYSE:IPG)’s stock price was down 4.3% during trading on Wednesday . The company traded as low as $27.29 and last traded at $27.55. Approximately 2,883,484 shares traded hands during trading, a decline of 36% from the average daily volume of 4,500,520 shares. The stock had previously closed at $28.80.

Analysts Set New Price Targets

IPG has been the topic of a number of recent research reports. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research note on Wednesday. They set a “hold” rating on the stock. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $32.00 to $36.00 in a research note 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 objective on the stock in a report on Friday, January 10th. 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. Finally, Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. Two 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $33.75.

Interpublic Group of Companies Stock Down 0.9 %

The firm’s 50 day simple moving average is $28.63 and its 200-day simple moving average is $29.98. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 12.96 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09.

Hedge Funds Weigh In On Interpublic Group of Companies

Hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. lifted its position in Interpublic Group of Companies by 25,637.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock worth $207,439,000 after acquiring an additional 7,374,491 shares during the period. State Street Corp lifted its position in Interpublic Group of Companies by 15.1% in the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after purchasing an additional 3,920,975 shares during the period. Amundi boosted its holdings in Interpublic Group of Companies by 133.6% in the 4th quarter. Amundi now owns 5,402,201 shares of the business services provider’s stock valued at $150,393,000 after purchasing an additional 3,089,387 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Interpublic Group of Companies during the 4th quarter worth approximately $51,794,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Interpublic Group of Companies by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,938,530 shares of the business services provider’s stock worth $362,538,000 after buying an additional 511,607 shares in the last quarter. 98.43% of the stock is currently owned by hedge funds and other 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.