October 16, 2020

Wolfe Research Upgrades The Interpublic Group of Companies (NYSE:IPG) to Outperform

Wolfe Research Upgrades The Interpublic Group of Companies (NYSE:IPG) to Outperform


The Interpublic Group of Companies (NYSE:IPG) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued on Friday, The Fly reports. The firm currently has a $23.00 price target on the business services provider’s stock, up from their previous price target of $20.00. Wolfe Research’s price objective indicates a potential upside of 28.21% from the stock’s previous close.

Separately, JPMorgan Chase & Co. lifted their target price on shares of The Interpublic Group of Companies from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $20.20.

NYSE IPG traded down $0.02 during trading on Friday, reaching $17.94. 44,595 shares of the company traded hands, compared to its average volume of 4,654,425. The Interpublic Group of Companies has a 1-year low of $11.63 and a 1-year high of $25.20. The stock’s 50 day moving average price is $17.64 and its two-hundred day moving average price is $17.16. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 8.25 and a beta of 1.00.

The Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Wednesday, July 29th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The Interpublic Group of Companies had a net margin of 4.66% and a return on equity of 25.72%. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The Interpublic Group of Companies’s quarterly revenue was down 12.8% compared to the same quarter last year. Equities research analysts expect that The Interpublic Group of Companies will post 1.52 EPS for the current fiscal year.

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Large investors have recently bought and sold shares of the company. Orion Portfolio Solutions LLC raised its position in The Interpublic Group of Companies by 122.2% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 1,875 shares of the business services provider’s stock worth $32,000 after purchasing an additional 1,031 shares during the last quarter. FIL Ltd bought a new position in The Interpublic Group of Companies in the 2nd quarter worth approximately $40,000. Kore Private Wealth LLC raised its position in The Interpublic Group of Companies by 109.2% in the 2nd quarter. Kore Private Wealth LLC now owns 2,548 shares of the business services provider’s stock worth $43,000 after purchasing an additional 1,330 shares during the last quarter. AlphaMark Advisors LLC raised its position in The Interpublic Group of Companies by 38.2% in the 2nd quarter. AlphaMark Advisors LLC now owns 4,251 shares of the business services provider’s stock worth $73,000 after purchasing an additional 1,175 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in The Interpublic Group of Companies in the 2nd quarter worth approximately $78,000. Institutional investors own 98.58% of the company’s stock.

About The Interpublic Group of Companies

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data management services.

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Wolfe Research Upgrades The Interpublic Group of Companies (NYSE:IPG) to Outperform

Wolfe Research Upgrades The Interpublic Group of Companies (NYSE:IPG) to Outperform

6 Stocks Riding the Coattails of Nikola Motor

Since its initial public offering on June 4, shares of Nikola (NASDAQ: NKLA) have surged over 130%. NKLA stock has cooled down since then and is now trading at just over a 60% premium from its IPO price of $34 per share.

Nikola isn’t alone. The entire electric vehicle (EV) market is on a tear. In addition to the surge in Nikola stock, Tesla (NASDAQ: TSLA) stock is up over 93% and Nio (NYSE: NIO) stock has climbed nearly over 160% in the same time period. But while Tesla and Nio are actually producing cars, Nikola does not even have a plant built.

With all that said, the allure of Nikola is easy to see. The company is planning on building a fleet of hydrogen fuel cell trucks powered by hydrogen fueling stations from sea to shining sea. At least that’s the plan. But that plan is years away. The company won’t even have a fuel cell truck available until 2023 at the earliest.

And while the United States has 39 hydrogen fueling stations, it’s an expensive, complicated venture. But that’s been the problem with hydrogen for nearly two decades. And that has some investors wondering what the company’s chief executive officer (CEO) Trevor Milton is really selling.

Leaving aside the question of whether Nikola is riding the coattails of Tesla, Nikola is beginning to create some significant coattails of its own. And there’s a reason for this. While Nikola is planning to compete with Tesla in the electric car arena, it’s also covering a specific niche with a semi-truck that will run on a hydrogen fuel cell.

View the “6 Stocks Riding the Coattails of Nikola Motor”.



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