JPMorgan Chase & Co. Upgrades Interpublic Group of Companies (NYSE:IPG) to Overweight

JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies (NYSE:IPG) from a neutral rating to an overweight rating in a research report sent to investors on Monday, MarketBeat reports. They currently have $39.00 price objective on the business services provider’s stock, up from their previous price objective of $32.00.

Other analysts also recently issued research reports about the stock. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a report on Monday, January 20th. They issued a “hold” rating for the company. Macquarie reissued a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. BNP Paribas raised shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Friday, January 10th. Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $32.00 to $36.00 in a report on Friday. Finally, Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Interpublic Group of Companies currently has an average rating of “Hold” and an average price target of $33.75.

Interpublic Group of Companies Stock Performance

Shares of IPG stock opened at $29.29 on Monday. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of 13.81 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The company has a 50-day simple moving average of $28.76 and a 200 day simple moving average of $30.05. Interpublic Group of Companies has a 52 week low of $26.30 and a 52 week high of $35.17.

Institutional Trading of Interpublic Group of Companies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new position in Interpublic Group of Companies during the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new position in Interpublic Group of Companies during the 3rd quarter worth approximately $32,000. Brooklyn Investment Group acquired a new position in Interpublic Group of Companies during the 3rd quarter worth approximately $60,000. Trust Co. of Vermont increased its position in Interpublic Group of Companies by 250.0% during the 3rd quarter. Trust Co. of Vermont now owns 2,100 shares of the business services provider’s stock worth $66,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its position in Interpublic Group of Companies by 31.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 2,356 shares of the business services provider’s stock worth $75,000 after purchasing an additional 568 shares in the last quarter. 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.