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 reduced by equities researchers at Wells Fargo & Company from $32.00 to $31.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 0.55% from the stock’s current price.

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

Interpublic Group of Companies Stock Down 1.8 %

NYSE IPG traded down $0.57 on Thursday, hitting $30.83. 1,008,124 shares of the stock were exchanged, compared to its average volume of 4,028,389. The company has a 50-day moving average price of $31.94 and a 200-day moving average price of $31.35. Interpublic Group of Companies has a fifty-two week low of $27.20 and a fifty-two week high of $40.95. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.73. The company has a market cap of $11.63 billion, a PE ratio of 10.83, a PEG ratio of 2.13 and a beta of 1.13.

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

Insider Activity at Interpublic Group of Companies

In related news, CAO Christopher F. Carroll sold 18,382 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $591,900.40. Following the sale, the chief accounting officer now directly owns 42,390 shares of the company’s stock, valued at approximately $1,364,958. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Philippe Krakowsky sold 150,403 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $4,842,976.60. Following the transaction, the chief executive officer now directly owns 415,776 shares in the company, valued at approximately $13,387,987.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Christopher F. Carroll sold 18,382 shares of the 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 disclosure for this sale can be found here. In the last three months, insiders have sold 249,646 shares of company stock valued at $8,038,601. Insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC purchased a new position in Interpublic Group of Companies in the fourth quarter valued at approximately $29,000. Voisard Asset Management Group Inc. purchased a new position in Interpublic Group of Companies in the fourth quarter valued at approximately $31,000. Authentikos Wealth Advisory LLC purchased a new position in Interpublic Group of Companies in the third quarter valued at approximately $33,000. Tobam raised its stake in shares of Interpublic Group of Companies by 2,340.0% during the fourth quarter. Tobam now owns 1,098 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 1,053 shares during the period. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Interpublic Group of Companies during the third quarter valued at approximately $43,000. Hedge funds and other institutional investors 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.