Interpublic Group of Cos. (NYSE:IPG) shares traded down 6.3% during trading on Thursday . The stock traded as low as $22.58 and last traded at $22.71, with a volume of 12,003,052 shares. The stock had previously closed at $24.23.

Several research analysts recently commented on the company. Zacks Investment Research cut Interpublic Group of Cos. from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. Wedbush reaffirmed an “outperform” rating and issued a $28.00 target price (up from $26.00) on shares of Interpublic Group of Cos. in a research report on Monday, April 25th. Telsey Advisory Group raised their target price on Interpublic Group of Cos. from $27.50 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, April 25th. BMO Capital Markets reaffirmed a “buy” rating on shares of Interpublic Group of Cos. in a research report on Monday, April 25th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Interpublic Group of Cos. in a research report on Sunday, April 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $25.75.

The firm has a market capitalization of $9.18 billion and a price-to-earnings ratio of 20.64. The stock’s 50-day moving average price is $23.70 and its 200-day moving average price is $22.69.

Interpublic Group of Cos. (NYSE:IPG) last posted its earnings results on Thursday, July 21st. The company reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. Equities analysts predict that Interpublic Group of Cos. will post $1.31 EPS for the current fiscal year.

In other Interpublic Group of Cos. news, CAO Christopher F. Carroll sold 20,000 shares of the company’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $23.33, for a total value of $466,600.00. Following the transaction, the chief accounting officer now directly owns 39,285 shares of the company’s stock, valued at approximately $916,519.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Isor Roth sold 500,000 shares of the company’s stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $23.25, for a total value of $11,625,000.00. Following the completion of the transaction, the chief executive officer now directly owns 865,986 shares in the company, valued at $20,134,174.50. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Interpublic Group of Cos. by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 34,707,199 shares of the company’s stock worth $807,984,000 after buying an additional 692,485 shares in the last quarter. Harris Associates L P raised its stake in Interpublic Group of Cos. by 2.0% in the fourth quarter. Harris Associates L P now owns 18,405,398 shares of the company’s stock valued at $428,478,000 after buying an additional 353,085 shares during the period. Cornerstone Capital Management Holdings LLC. raised its stake in Interpublic Group of Cos. by 292.4% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 417,889 shares of the company’s stock valued at $9,728,000 after buying an additional 311,392 shares during the period. Principal Financial Group Inc. raised its stake in Interpublic Group of Cos. by 39.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,050,634 shares of the company’s stock valued at $24,459,000 after buying an additional 295,055 shares during the period. Finally, Schroder Investment Management Group raised its stake in Interpublic Group of Cos. by 7.3% in the fourth quarter. Schroder Investment Management Group now owns 2,416,838 shares of the company’s stock valued at $56,264,000 after buying an additional 165,418 shares during the period.

The Interpublic Group of Companies, Inc (IPG) is an advertising and marketing services company. IPG’s companies are engaged in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. The Company operates through two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

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