Wpp Plc (NASDAQ:WPPGY) was downgraded by Zacks Investment Research from a “buy” 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. High concentration risks remain a significant headwind for the company. 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. Brexit could further result in higher tariff and non-tariff barriers to trade between the U.K. and the European Union, lowering productivity of the company. However, WPP outperformed the industry over a year- to- date period.  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. It is currently well poised to grow with a strong momentum in the media and advertising industry worldwide.”

A number of other equities research analysts also recently weighed in on the company. BidaskClub downgraded Wpp Plc from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. ValuEngine downgraded Wpp Plc from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BNP Paribas downgraded Wpp Plc from an “outperform” rating to an “underperform” rating in a research report on Friday, July 7th. Deutsche Bank AG downgraded Wpp Plc from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, UBS AG started coverage on Wpp Plc in a report on Tuesday, June 13th. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $121.50.

Shares of Wpp Plc (NASDAQ:WPPGY) traded down 0.50% during mid-day trading on Thursday, reaching $102.44. The company’s stock had a trading volume of 49,060 shares. Wpp Plc has a 12 month low of $99.94 and a 12 month high of $121.55. The company has a 50 day moving average price of $102.58 and a 200 day moving average price of $108.05. The stock has a market capitalization of $25.96 billion, a P/E ratio of 14.37 and a beta of 1.19.

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A number of large investors have recently added to or reduced their stakes in WPPGY. Arrowstreet Capital Limited Partnership increased its stake in Wpp Plc by 63.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 486,156 shares of the business services provider’s stock worth $51,246,000 after buying an additional 189,567 shares during the last quarter. Royal Bank of Canada increased its stake in Wpp Plc by 4.3% in the second quarter. Royal Bank of Canada now owns 250,660 shares of the business services provider’s stock worth $26,422,000 after buying an additional 10,301 shares during the last quarter. First Trust Advisors LP increased its stake in Wpp Plc by 8.5% in the second quarter. First Trust Advisors LP now owns 227,823 shares of the business services provider’s stock worth $24,015,000 after buying an additional 17,928 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Wpp Plc by 41.1% in the second quarter. JPMorgan Chase & Co. now owns 209,996 shares of the business services provider’s stock worth $22,136,000 after buying an additional 61,156 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Wpp Plc by 8.1% in the second quarter. Parametric Portfolio Associates LLC now owns 199,460 shares of the business services provider’s stock worth $21,025,000 after buying an additional 14,981 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors.

About Wpp Plc

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.

Analyst Recommendations for Wpp Plc (NASDAQ:WPPGY)

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