Interpublic Group of Companies (IPG) Lowered to “Sector Perform” at Royal Bank of Canada

Interpublic Group of Companies (NYSE:IPG) was downgraded by Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a note issued to investors on Thursday, The Fly reports.

Several other brokerages have also recently commented on IPG. BMO Capital Markets raised their target price on Interpublic Group of Companies from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 24th. Zacks Investment Research downgraded Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Thursday, November 29th. Citigroup raised their target price on Interpublic Group of Companies from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 19th. Finally, Macquarie upgraded Interpublic Group of Companies from a “neutral” rating to an “outperform” rating and raised their target price for the company from $24.00 to $25.00 in a report on Thursday, September 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $25.67.

Interpublic Group of Companies stock traded up $0.13 during mid-day trading on Thursday, reaching $22.34. 2,376,849 shares of the company’s stock were exchanged, compared to its average volume of 4,632,300. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.50. The firm has a market cap of $8.56 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.61 and a beta of 1.11. Interpublic Group of Companies has a twelve month low of $19.61 and a twelve month high of $26.01.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Friday, October 19th. The business services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Interpublic Group of Companies had a net margin of 6.62% and a return on equity of 30.99%. Interpublic Group of Companies’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 earnings per share. On average, equities research analysts anticipate that Interpublic Group of Companies will post 1.74 earnings per share for the current fiscal year.

In other news, Director H John Greeniaus sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $23.50, for a total transaction of $117,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jocelyn Carter-Miller sold 8,735 shares of the business’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $23.24, for a total transaction of $203,001.40. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Round Table Services LLC purchased a new stake in Interpublic Group of Companies during the 3rd quarter valued at about $203,000. Exane Derivatives grew its stake in shares of Interpublic Group of Companies by 36.9% in the 3rd quarter. Exane Derivatives now owns 138,347 shares of the business services provider’s stock valued at $3,163,000 after buying an additional 37,260 shares during the period. Morgan Stanley grew its stake in shares of Interpublic Group of Companies by 126.2% in the 3rd quarter. Morgan Stanley now owns 2,779,943 shares of the business services provider’s stock valued at $63,578,000 after buying an additional 1,550,708 shares during the period. First Hawaiian Bank purchased a new stake in shares of Interpublic Group of Companies in the 3rd quarter valued at approximately $531,000. Finally, Jefferies Group LLC grew its stake in shares of Interpublic Group of Companies by 13.0% in the 3rd quarter. Jefferies Group LLC now owns 141,975 shares of the business services provider’s stock valued at $3,247,000 after buying an additional 16,325 shares during the period. 99.61% of the stock is owned by institutional investors.

Interpublic Group of Companies Company Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.

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