WPP PLC (WPPGY) Rating Increased to Hold at Zacks Investment Research
WPP PLC (NASDAQ:WPPGY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “WPP operates in a highly competitive and fragmented communication services industry. The company depends on a limited number of big clients for a significant portion of its revenues. Loss of any of these big clients could adversely impact the company’s prospects. In addition, significant international operations expose it to risk of fluctuation in foreign exchange rates, since most of its revenues come from countries other than the U.K. The company is also likely to be stifled by the renegotiated deals and restrictions imposed on trade with other European Union members post Brexit. However, a geographically superior position in new markets and functional strength in new media and data investment management will likely help WPP in achieving steady revenue growth in the future. Continued acquisitions in key markets remain tailwinds.”
Separately, Jefferies Group downgraded shares of WPP PLC from a “buy” rating to a “hold” rating in a research note on Monday, September 26th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. WPP PLC has a consensus rating of “Hold” and a consensus target price of $133.00.
Shares of WPP PLC (NASDAQ:WPPGY) traded down 0.19% on Thursday, reaching $114.46. 22,448 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $117.08 and a 200 day moving average of $114.30. The firm has a market capitalization of $29.39 billion, a P/E ratio of 27.35 and a beta of 1.32. WPP PLC has a one year low of $95.67 and a one year high of $121.55.
Hedge funds and other institutional investors have recently modified their holdings of the company. Rathbone Brothers plc increased its position in shares of WPP PLC by 8.3% in the second quarter. Rathbone Brothers plc now owns 3,245 shares of the company’s stock worth $339,000 after buying an additional 250 shares in the last quarter. Geode Capital Management LLC increased its position in shares of WPP PLC by 0.7% in the first quarter. Geode Capital Management LLC now owns 11,295 shares of the company’s stock worth $1,315,000 after buying an additional 77 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of WPP PLC by 5.1% in the second quarter. US Bancorp DE now owns 192,850 shares of the company’s stock worth $20,156,000 after buying an additional 9,338 shares in the last quarter. Institutional investors own 4.86% of the company’s stock.
WPP PLC Company Profile
WPP PLC is a parent company that, through its subsidiaries, is engaged in the provision of communications and marketing services worldwide. The Company has four segments: Advertising and Media Investment Management; Consumer Insight (formerly Information, Insight & Consultancy); Public Relations & Public Affairs, and Branding & Identity, Healthcare and Specialist Communications, which includes WPP Digital and direct, digital, promotional and relationship marketing.
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