WPP (LON:WPP) Stock Passes Above 200 Day Moving Average – Here’s What Happened

WPP plc (LON:WPP)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 273.35 and traded as high as GBX 397.50. WPP shares last traded at GBX 385.10, with a volume of 3,643,058 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WPP shares. JPMorgan Chase & Co. boosted their price objective on WPP from GBX 350 to GBX 390 and gave the company a “neutral” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 425 price target on shares of WPP in a research note on Friday, August 7th. Berenberg Bank reiterated a “buy” rating and issued a GBX 405 price target on shares of WPP in a report on Friday, August 7th. Finally, Citigroup increased their price objective on shares of WPP from GBX 285 to GBX 430 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 412.50.

WPP Trading Up 0.3%

The company has a debt-to-equity ratio of 276.02, a current ratio of 0.87 and a quick ratio of 0.89. The business has a 50-day moving average of GBX 297.31 and a 200-day moving average of GBX 273.94. The firm has a market cap of £4.24 billion, a price-to-earnings ratio of -19.64, a P/E/G ratio of 13.47 and a beta of 0.70.

WPP (LON:WPP) last released its earnings results on Friday, August 7th. The company reported GBX 1.80 earnings per share (EPS) for the quarter. WPP had a negative return on equity of 9.33% and a negative net margin of 1.81%. Research analysts anticipate that WPP plc will post 81.6125654 EPS for the current year.

Insider Buying and Selling

In other news, insider Cindy Rose sold 88,227 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of GBX 282, for a total transaction of £248,800.14. Also, insider Peter Agnefjäll acquired 75,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was bought at an average cost of GBX 281 per share, with a total value of £210,750. Corporate insiders own 2.04% of the company’s stock.

WPP Company Profile

WPP is the creative transformation company, using the power of creativity to build better futures for our people, planet, clients and communities.

We are a world leader in marketing services, with deep AI, data and technology capabilities, global presence and unrivalled creative talent.