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

Wpp Plc (NYSE:WPP) has been given an average rating of “Hold” by the eight research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company.

A number of research firms have commented on WPP. Barclays raised shares of WPP from an “underweight” rating to an “equal weight” rating in a research note on Friday, February 27th. Citigroup reissued a “neutral” rating on shares of WPP in a research note on Thursday, April 30th. Rothschild & Co Redburn began coverage on shares of WPP in a research note on Thursday, May 28th. They issued a “buy” rating for the company. Wall Street Zen raised shares of WPP from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, The Goldman Sachs Group began coverage on shares of WPP in a research note on Wednesday. They issued a “sell” rating for the company.

WPP Trading Down 4.6%

WPP stock opened at $17.72 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.89 and a quick ratio of 0.89. WPP has a one year low of $14.81 and a one year high of $38.04. The firm has a 50 day simple moving average of $17.66 and a two-hundred day simple moving average of $19.02.

Institutional Investors Weigh In On WPP

Hedge funds have recently made changes to their positions in the business. Mondrian Investment Partners LTD bought a new stake in shares of WPP in the 3rd quarter worth approximately $79,947,000. M&T Bank Corp lifted its holdings in shares of WPP by 344.9% in the 4th quarter. M&T Bank Corp now owns 52,491 shares of the business services provider’s stock worth $1,179,000 after acquiring an additional 40,693 shares during the last quarter. ABC Arbitrage SA bought a new stake in shares of WPP in the 4th quarter worth approximately $5,199,000. K.J. Harrison & Partners Inc bought a new stake in shares of WPP in the 4th quarter worth approximately $1,123,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of WPP by 6.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 47,225 shares of the business services provider’s stock worth $1,183,000 after acquiring an additional 2,707 shares during the last quarter. 4.34% of the stock is currently owned by institutional investors.

WPP Company Profile

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.