WPP (NYSE:WPP) Stock Dropped to Strong Sell by Zacks Research

WPP (NYSE:WPP) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks reports.

Other equities analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of WPP in a research note on Tuesday, September 8th. Weiss Ratings reissued a “sell (d)” rating on shares of WPP in a research note on Friday, September 11th. Finally, Citigroup restated a “neutral” rating on shares of WPP in a report on Wednesday, October 21st. Three research analysts have 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 MarketBeat.com, the stock presently has a consensus rating of “Hold”.

WPP Stock Performance

WPP opened at $28.07 on Monday. WPP has a 52 week low of $14.81 and a 52 week high of $28.77. The business has a fifty day simple moving average of $25.96 and a 200-day simple moving average of $20.75.

Institutional Investors Weigh In On WPP

A number of hedge funds have recently bought and sold shares of WPP. First Command Advisory Services Inc. purchased a new position in shares of WPP in the 3rd quarter valued at about $40,000. Jacobi Capital Management LLC acquired a new position in shares of WPP during the third quarter worth about $59,000. Signaturefd LLC grew its position in shares of WPP by 53.8% during the third quarter. Signaturefd LLC now owns 3,424 shares of the business services provider’s stock worth $85,000 after buying an additional 1,198 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of WPP during the second quarter worth approximately $176,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of WPP during the third quarter worth approximately $310,000. Institutional investors and hedge funds own 4.34% of the company’s stock.

WPP Company Profile

WPP plc is a global communications and marketing services company headquartered in London. It helps businesses and organizations build brands and reach customers through advertising, media planning and buying, public relations, creative services, production, commerce and marketing technology. Its network includes agencies and specialist businesses such as Ogilvy, VML, Burson and Hogarth. WPP works with clients across a broad range of industries and serves markets around the world. The company traces its origins to Wire and Plastic Products, founded in 1971.