WPP (NYSE:WPP) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of WPP (NYSE:WPP) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other analysts have also issued reports on the company. Wall Street Zen lowered WPP from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of WPP in a report on Thursday, July 10th. Kepler Capital Markets lowered WPP from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a report on Wednesday, October 8th. Finally, Barclays restated an “underweight” rating on shares of WPP in a report on Friday, August 8th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, WPP presently has a consensus rating of “Reduce”.

WPP Stock Performance

WPP opened at $18.14 on Tuesday. The stock has a fifty day moving average of $24.29 and a 200-day moving average of $30.39. WPP has a 12-month low of $17.47 and a 12-month high of $57.37.

Hedge Funds Weigh In On WPP

Several hedge funds have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. increased its position in WPP by 6.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 47,225 shares of the business services provider’s stock worth $1,183,000 after buying an additional 2,707 shares during the last quarter. SBI Securities Co. Ltd. increased its position in WPP by 323.9% during the third quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock worth $36,000 after buying an additional 1,111 shares during the last quarter. Hantz Financial Services Inc. increased its position in WPP by 16.3% during the third quarter. Hantz Financial Services Inc. now owns 48,306 shares of the business services provider’s stock worth $1,210,000 after buying an additional 6,785 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in WPP by 62.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 20,544 shares of the business services provider’s stock worth $515,000 after buying an additional 7,936 shares during the last quarter. Finally, Tred Avon Family Wealth LLC acquired a new position in WPP during the third quarter worth $287,000. 4.34% of the stock is owned by institutional investors and hedge funds.

WPP Company Profile

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.