Equities research analysts at Royal Bank Of Canada initiated coverage on shares of Interpublic Group of Cos. (NYSE:IPG) in a research report issued to clients and investors on Friday. The firm set a “top pick” rating and a $27.00 price target on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 21.57% from the stock’s previous close.

IPG has been the topic of a number of other research reports. Zacks Investment Research cut shares of Interpublic Group of Cos. from a “hold” rating to a “sell” rating in a report on Friday, July 15th. Jefferies Group reaffirmed a “buy” rating on shares of Interpublic Group of Cos. in a report on Monday, August 1st. Credit Suisse Group AG began coverage on shares of Interpublic Group of Cos. in a report on Thursday, September 15th. They issued an “outperform” rating and a $27.00 price target on the stock. RBC Capital Markets began coverage on shares of Interpublic Group of Cos. in a report on Thursday. They issued a “top pick” rating and a $27.00 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Interpublic Group of Cos. in a report on Monday, July 18th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Interpublic Group of Cos. has a consensus rating of “Buy” and a consensus target price of $26.08.

Shares of Interpublic Group of Cos. (NYSE:IPG) opened at 22.21 on Friday. Interpublic Group of Cos. has a one year low of $19.79 and a one year high of $24.82. The firm has a market cap of $8.90 billion, a P/E ratio of 18.45 and a beta of 1.83. The firm has a 50 day moving average price of $22.65 and a 200-day moving average price of $23.15.

Interpublic Group of Cos. (NYSE:IPG) last announced its earnings results on Thursday, July 21st. The company reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. Interpublic Group of Cos. had a return on equity of 26.26% and a net margin of 6.44%. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the business earned $0.29 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. Analysts forecast that Interpublic Group of Cos. will post $1.31 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.60 annualized dividend and a dividend yield of 2.70%. Interpublic Group of Cos.’s payout ratio is currently 50.00%.

In other news, SVP Ellen Tobi Johnson sold 35,765 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $22.69, for a total value of $811,507.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.75% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new position in Interpublic Group of Cos. during the first quarter valued at $1,798,000. UBS Group AG raised its position in shares of Interpublic Group of Cos. by 196.9% in the first quarter. UBS Group AG now owns 212,918 shares of the company’s stock valued at $4,887,000 after buying an additional 141,197 shares during the period. BB&T Securities LLC raised its position in shares of Interpublic Group of Cos. by 30.6% in the first quarter. BB&T Securities LLC now owns 12,771 shares of the company’s stock valued at $293,000 after buying an additional 2,993 shares during the period. Credit Agricole S A raised its position in shares of Interpublic Group of Cos. by 3.7% in the first quarter. Credit Agricole S A now owns 642,504 shares of the company’s stock valued at $14,745,000 after buying an additional 22,938 shares during the period. Finally, Aviva PLC raised its position in shares of Interpublic Group of Cos. by 0.8% in the first quarter. Aviva PLC now owns 207,996 shares of the company’s stock valued at $4,774,000 after buying an additional 1,622 shares during the period. 94.54% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Cos. Company Profile

The Interpublic Group of Companies, Inc (IPG) is an advertising and marketing services company. IPG’s companies are engaged in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. The Company operates through two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

5 Day Chart for NYSE:IPG

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