WPP (NYSE:WPP) Rating Increased to Overweight at Barclays

Barclays upgraded shares of WPP (NYSE:WPP – Get Rating) from an equal weight rating to an overweight rating in a research report released on Tuesday, The Fly reports.

Several other research analysts have also issued reports on the stock. Morgan Stanley increased their price target on shares of WPP from GBX 730 ($9.02) to GBX 770 ($9.51) in a research report on Friday, December 16th. StockNews.com raised shares of WPP from a hold rating to a buy rating in a research report on Thursday, October 27th. JPMorgan Chase & Co. increased their price target on shares of WPP from GBX 1,210 ($14.94) to GBX 1,260 ($15.56) in a research report on Monday, December 12th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of WPP from GBX 1,370 ($16.92) to GBX 1,100 ($13.59) in a research note on Monday, October 17th. Finally, Berenberg Bank decreased their price objective on shares of WPP from GBX 915 ($11.30) to GBX 864 ($10.67) in a research note on Friday, November 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $1,001.29.

WPP Price Performance

NYSE:WPP opened at $61.92 on Tuesday. WPP has a 12-month low of $39.67 and a 12-month high of $83.69. The firm has a 50-day moving average price of $53.20 and a 200 day moving average price of $47.28.

Institutional Trading of WPP

Several hedge funds have recently modified their holdings of WPP. Macquarie Group Ltd. grew its stake in shares of WPP by 25.4% during the third quarter. Macquarie Group Ltd. now owns 957,634 shares of the business services provider’s stock valued at $39,445,000 after purchasing an additional 193,993 shares during the last quarter. Mondrian Investment Partners LTD lifted its holdings in WPP by 21.1% in the third quarter. Mondrian Investment Partners LTD now owns 1,004,886 shares of the business services provider’s stock valued at $41,391,000 after buying an additional 175,158 shares during the period. Optiver Holding B.V. lifted its holdings in WPP by 684.3% in the second quarter. Optiver Holding B.V. now owns 102,324 shares of the business services provider’s stock valued at $5,177,000 after buying an additional 89,278 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in WPP in the third quarter valued at approximately $2,866,000. Finally, Bank of Montreal Can lifted its holdings in WPP by 48.5% in the third quarter. Bank of Montreal Can now owns 164,974 shares of the business services provider’s stock valued at $7,167,000 after buying an additional 53,871 shares during the period. 3.79% of the stock is owned by institutional investors.

WPP Company Profile

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WPP Plc is a creative transformation company, which engages in the provision of communications services. It operates through the following segments: Global Integrated Agencies, Public Relations, and Specialist Agencies. The Global Integrated Agencies segment offers creative services including advertising, marketing, and brand strategies and campaigns across all media.