Interpublic Group of Companies (NYSE:IPG) Trading Down 4.3% – Here’s Why

The Interpublic Group of Companies, Inc. (NYSE:IPG)’s share price traded down 4.3% on Wednesday . The stock traded as low as $27.29 and last traded at $27.55. 2,883,484 shares were traded during mid-day trading, a decline of 36% from the average session volume of 4,500,520 shares. The stock had previously closed at $28.80.

Analysts Set New Price Targets

A number of research firms have commented on IPG. Macquarie reaffirmed a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $32.00 to $39.00 in a research note on Monday, January 27th. BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research report on Friday, January 10th. Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $32.00 to $36.00 in a research note on Friday, January 24th. Finally, Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Interpublic Group of Companies currently has an average rating of “Hold” and an average price target of $33.75.

Interpublic Group of Companies Trading Down 3.8 %

The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of 13.07 and a beta of 1.11. The company’s fifty day moving average price is $28.73 and its 200-day moving average price is $30.01.

Institutional Trading of Interpublic Group of Companies

A number of institutional investors and hedge funds have recently made changes to their positions in IPG. Catalyst Capital Advisors LLC purchased a new stake in shares of Interpublic Group of Companies during the third quarter worth about $26,000. Allworth Financial LP increased its stake in shares of Interpublic Group of Companies by 75.8% during the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after purchasing an additional 480 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Interpublic Group of Companies during the third quarter worth about $32,000. Brooklyn Investment Group purchased a new stake in shares of Interpublic Group of Companies during the third quarter worth about $60,000. Finally, Trust Co. of Vermont increased its stake in shares of Interpublic Group of Companies by 250.0% during the third 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. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

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.