Interpublic Group of Companies (NYSE:IPG) Given New $39.00 Price Target at JPMorgan Chase & Co.

Interpublic Group of Companies (NYSE:IPGGet Rating) had its target price lifted by JPMorgan Chase & Co. from $38.00 to $39.00 in a research report sent to investors on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the business services provider’s stock.

Several other research analysts have also recently issued reports on IPG. Bank of America raised Interpublic Group of Companies from an underperform rating to a neutral rating and increased their price target for the stock from $22.00 to $36.00 in a research note on Thursday, January 5th. Morgan Stanley increased their price target on Interpublic Group of Companies from $33.00 to $35.00 and gave the stock an equal weight rating in a research note on Monday, December 19th. Finally, StockNews.com began coverage on Interpublic Group of Companies in a research note on Wednesday, October 12th. They issued a hold rating for the company. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $36.50.

Interpublic Group of Companies Price Performance

Shares of NYSE IPG opened at $36.51 on Monday. Interpublic Group of Companies has a 1-year low of $25.14 and a 1-year high of $39.98. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.04 and a quick ratio of 1.04. The business’s fifty day moving average price is $33.92 and its two-hundred day moving average price is $30.43. The firm has a market capitalization of $14.19 billion, a PE ratio of 14.49, a P/E/G ratio of 3.63 and a beta of 1.08.

Interpublic Group of Companies (NYSE:IPGGet Rating) last issued its earnings results on Friday, October 21st. The business services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Interpublic Group of Companies had a return on equity of 28.78% and a net margin of 9.18%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.29 billion. On average, research analysts expect that Interpublic Group of Companies will post 2.74 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Wednesday, November 30th. Interpublic Group of Companies’s dividend payout ratio is 46.03%.

Institutional Investors Weigh In On Interpublic Group of Companies

Hedge funds have recently modified their holdings of the stock. Edge Capital Group LLC purchased a new stake in shares of Interpublic Group of Companies during the second quarter valued at $102,000. Financial Gravity Asset Management Inc. lifted its holdings in shares of Interpublic Group of Companies by 197.1% during the second quarter. Financial Gravity Asset Management Inc. now owns 728 shares of the business services provider’s stock valued at $4,268,000 after purchasing an additional 483 shares during the last quarter. Sargent Bickham Lagudis LLC purchased a new stake in shares of Interpublic Group of Companies during the fourth quarter valued at $30,000. Concord Wealth Partners lifted its holdings in shares of Interpublic Group of Companies by 251.5% during the second quarter. Concord Wealth Partners now owns 942 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 674 shares during the last quarter. Finally, Venture Visionary Partners LLC purchased a new stake in Interpublic Group of Companies in the 2nd quarter worth about $26,000. 96.75% of the stock is owned by hedge funds and other institutional investors.

About Interpublic Group of Companies

(Get Rating)

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.

Further Reading

Analyst Recommendations for Interpublic Group of Companies (NYSE:IPG)

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