Wells Fargo & Co cut shares of Interpublic Group of Companies (NYSE:IPG) from an outperform rating to a market perform rating in a report released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $23.00 price target on the business services provider’s stock.

A number of other analysts have also commented on the stock. Macquarie lowered shares of Interpublic Group of Companies from a neutral rating to an underperform rating in a research note on Tuesday, January 2nd. Jefferies Group lowered shares of Interpublic Group of Companies from a buy rating to a hold rating in a research note on Wednesday, December 13th. TheStreet lowered shares of Interpublic Group of Companies from a b- rating to a c+ rating in a research note on Wednesday, November 22nd. Argus lowered shares of Interpublic Group of Companies from a buy rating to a hold rating and set a $27.00 price objective for the company. in a research note on Tuesday, October 31st. Finally, Zacks Investment Research lowered shares of Interpublic Group of Companies from a hold rating to a sell rating in a research note on Friday, October 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $25.57.

Interpublic Group of Companies (IPG) traded down $0.25 during mid-day trading on Thursday, reaching $21.35. 3,516,149 shares of the company’s stock were exchanged, compared to its average volume of 3,848,939. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.63. Interpublic Group of Companies has a 52 week low of $18.30 and a 52 week high of $25.71. The stock has a market capitalization of $8,296.80, a price-to-earnings ratio of 14.83, a PEG ratio of 1.29 and a beta of 1.47.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Tuesday, October 24th. The business services provider reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). Interpublic Group of Companies had a net margin of 7.43% and a return on equity of 27.38%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the company posted $0.31 earnings per share. Interpublic Group of Companies’s quarterly revenue was down 1.0% compared to the same quarter last year. analysts forecast that Interpublic Group of Companies will post 1.39 EPS for the current year.

In other news, Director H John Greeniaus sold 43,479 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $19.00, for a total value of $826,101.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.49% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC increased its holdings in Interpublic Group of Companies by 755.0% in the second quarter. Acrospire Investment Management LLC now owns 4,506 shares of the business services provider’s stock worth $111,000 after buying an additional 3,979 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. increased its holdings in Interpublic Group of Companies by 35.6% in the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,775 shares of the business services provider’s stock worth $117,000 after buying an additional 1,254 shares during the last quarter. Franklin Resources Inc. acquired a new position in Interpublic Group of Companies in the second quarter worth approximately $205,000. Ameritas Investment Partners Inc. increased its holdings in Interpublic Group of Companies by 1.0% in the second quarter. Ameritas Investment Partners Inc. now owns 9,123 shares of the business services provider’s stock worth $224,000 after buying an additional 90 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in Interpublic Group of Companies by 98.9% in the second quarter. Cubist Systematic Strategies LLC now owns 9,589 shares of the business services provider’s stock worth $236,000 after buying an additional 4,768 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

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About Interpublic Group of Companies

The Interpublic Group of Companies, Inc is a global advertising and marketing services company. The Company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates in two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

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

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