Interpublic Group of Cos. (NYSE:IPG) had its price objective raised by research analysts at Pivotal Research from $27.00 to $28.00 in a research report issued on Monday. The brokerage presently has a “buy” rating on the stock. Pivotal Research’s target price would suggest a potential upside of 23.57% from the company’s previous close.

IPG has been the subject of several other reports. Credit Suisse Group AG initiated 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 objective for the company. Zacks Investment Research downgraded shares of Interpublic Group of Cos. from a “buy” rating to a “hold” rating in a report on Monday, June 27th. Jefferies Group reaffirmed a “buy” rating on shares of Interpublic Group of Cos. in a report on Monday, August 1st. BMO Capital Markets reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Interpublic Group of Cos. in a report on Friday, July 22nd. Finally, RBC Capital Markets initiated coverage on shares of Interpublic Group of Cos. in a report on Thursday, October 6th. They issued a “top pick” rating and a $27.00 price objective for the company. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.42.

Analyst Recommendations for Interpublic Group of Cos. (NYSE:IPG)

Interpublic Group of Cos. (NYSE:IPG) opened at 22.66 on Monday. Interpublic Group of Cos. has a 12-month low of $19.79 and a 12-month high of $24.82. The company’s 50-day moving average price is $22.57 and its 200-day moving average price is $23.18. The company has a market cap of $9.08 billion, a PE ratio of 18.82 and a beta of 1.83.

Interpublic Group of Cos. (NYSE:IPG) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.33 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. The company earned $1.92 billion during the quarter, compared to the consensus estimate of $1.93 billion. Interpublic Group of Cos. had a net margin of 6.44% and a return on equity of 26.26%. Interpublic Group of Cos.’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.29 EPS. Equities analysts anticipate that Interpublic Group of Cos. will post $1.31 earnings per share for the current year.

In related news, SVP Ellen Tobi Johnson sold 35,765 shares of Interpublic Group of Cos. 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.75% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the company. National Pension Service boosted its position in shares of Interpublic Group of Cos. by 9.5% in the third quarter. National Pension Service now owns 372,320 shares of the company’s stock worth $8,321,000 after buying an additional 32,262 shares during the last quarter. Hennessy Advisors Inc. boosted its position in Interpublic Group of Cos. by 25.1% in the third quarter. Hennessy Advisors Inc. now owns 1,969,779 shares of the company’s stock worth $44,025,000 after buying an additional 395,579 shares during the last quarter. Capstone Asset Management Co. boosted its position in Interpublic Group of Cos. by 2.2% in the third quarter. Capstone Asset Management Co. now owns 42,014 shares of the company’s stock worth $939,000 after buying an additional 904 shares during the last quarter. Fenimore Asset Management Inc. boosted its position in Interpublic Group of Cos. by 12.9% in the third quarter. Fenimore Asset Management Inc. now owns 1,770,425 shares of the company’s stock worth $39,569,000 after buying an additional 201,935 shares during the last quarter. Finally, Raymond James Trust N.A. purchased a new position in Interpublic Group of Cos. during the third quarter worth about $215,000. Institutional investors own 94.53% of the company’s stock.

About Interpublic Group of Cos.

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).

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