Brokerages Set WPP plc (NYSE:WPP) Target Price at $932.50

WPP plc (NYSE:WPPGet Rating) has earned an average rating of “Hold” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $932.50.

A number of analysts have recently weighed in on WPP shares. Barclays lowered WPP from an “overweight” rating to an “equal weight” rating in a research report on Monday, March 14th. Zacks Investment Research cut WPP from a “buy” rating to a “hold” rating in a research report on Wednesday, March 2nd. Credit Suisse Group increased their target price on shares of WPP from GBX 1,155 ($15.15) to GBX 1,200 ($15.74) in a report on Friday, February 25th. The Goldman Sachs Group cut shares of WPP from a “buy” rating to a “neutral” rating in a research report on Sunday. Finally, Bank of America downgraded shares of WPP from a “neutral” rating to an “underperform” rating and set a $75.00 price objective on the stock. in a research note on Thursday, January 27th.

WPP stock traded down $0.61 during trading on Friday, reaching $63.47. The company had a trading volume of 4,621 shares, compared to its average volume of 165,861. WPP has a 1-year low of $58.82 and a 1-year high of $83.69. The firm’s 50-day simple moving average is $71.68 and its 200 day simple moving average is $72.46.

The firm also recently declared a semi-annual dividend, which will be paid on Friday, July 8th. Investors of record on Friday, June 10th will be issued a dividend of $1.2505 per share. This represents a yield of 3%. This is a boost from WPP’s previous semi-annual dividend of $0.87. The ex-dividend date of this dividend is Thursday, June 9th.

A number of institutional investors have recently modified their holdings of the stock. FSB Premier Wealth Management Inc. acquired a new stake in shares of WPP during the 4th quarter worth about $32,000. CWM LLC acquired a new stake in shares of WPP in the 4th quarter valued at $37,000. Liberty Wealth Management LLC acquired a new position in WPP during the third quarter worth about $41,000. Whittier Trust Co. of Nevada Inc. boosted its position in WPP by 100.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 638 shares of the business services provider’s stock valued at $48,000 after buying an additional 320 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its holdings in shares of WPP by 50.1% during the third quarter. JFS Wealth Advisors LLC now owns 692 shares of the business services provider’s stock worth $46,000 after purchasing an additional 231 shares during the last quarter. 4.07% of the stock is currently owned by institutional investors and hedge funds.

About WPP (Get Rating)

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.

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Analyst Recommendations for WPP (NYSE:WPP)

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