Wpp Plc (NYSE:WPP) Receives Consensus Recommendation of “Hold” from Analysts

Wpp Plc (NYSE:WPP) has earned an average recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company.

WPP has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on WPP in a report on Wednesday, June 3rd. They set a “sell” rating on the stock. Berenberg Bank assumed coverage on WPP in a report on Tuesday, June 9th. They issued a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of WPP in a report on Tuesday, June 16th. Wall Street Zen upgraded WPP from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Barclays upgraded WPP from an “underweight” rating to an “equal weight” rating in a report on Friday, February 27th.

WPP Price Performance

WPP stock opened at $16.58 on Thursday. WPP has a 52-week low of $14.81 and a 52-week high of $36.66. The stock’s 50 day moving average price is $18.17 and its two-hundred day moving average price is $18.88. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.89.

Hedge Funds Weigh In On WPP

A number of large investors have recently modified their holdings of the company. Allworth Financial LP lifted its holdings in shares of WPP by 38.9% in the 3rd quarter. Allworth Financial LP now owns 1,852 shares of the business services provider’s stock worth $46,000 after purchasing an additional 519 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of WPP by 9.2% in the 2nd quarter. Cetera Investment Advisers now owns 7,766 shares of the business services provider’s stock worth $272,000 after purchasing an additional 654 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in shares of WPP by 105.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after purchasing an additional 717 shares in the last quarter. Ameriprise Financial Inc. raised its position in WPP by 6.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,704 shares of the business services provider’s stock valued at $343,000 after buying an additional 776 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in WPP by 185.0% in the 4th quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock valued at $28,000 after buying an additional 814 shares during the last quarter. 4.34% of the stock is currently owned by institutional investors.

About WPP

WPP plc (NYSE: WPP) is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world’s largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.