WPP (NYSE:WPP) Cut to “Neutral” at The Goldman Sachs Group

WPP (NYSE:WPPGet Rating) was downgraded by equities researchers at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report issued on Sunday, The Fly reports.

A number of other research firms also recently issued reports on WPP. JPMorgan Chase & Co. dropped their price target on WPP from GBX 1,320 ($17.31) to GBX 1,270 ($16.66) in a research note on Friday, March 18th. Zacks Investment Research cut WPP from a “buy” rating to a “hold” rating in a report on Wednesday, March 2nd. Berenberg Bank raised their price target on WPP from GBX 1,045 ($13.70) to GBX 1,185 ($15.54) in a report on Tuesday, March 1st. Oddo Bhf cut WPP from an “outperform” rating to a “neutral” rating in a report on Tuesday, January 25th. Finally, HSBC raised WPP from a “hold” rating to a “buy” rating in a report on Monday, December 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, WPP presently has an average rating of “Hold” and a consensus price target of $764.00.

WPP traded down $0.83 during midday trading on Friday, reaching $64.08. 232,674 shares of the company’s stock traded hands, compared to its average volume of 168,300. WPP has a 52 week low of $58.82 and a 52 week high of $83.69. The firm has a fifty day moving average of $71.68 and a two-hundred day moving average of $72.46.

A number of large investors have recently bought and sold shares of WPP. FSB Premier Wealth Management Inc. purchased a new stake in WPP in the fourth quarter valued at $32,000. CWM LLC purchased a new stake in WPP in the fourth quarter valued at $37,000. Liberty Wealth Management LLC purchased a new stake in WPP in the third quarter valued at $41,000. JFS Wealth Advisors LLC boosted its holdings in WPP by 50.1% in the third quarter. JFS Wealth Advisors LLC now owns 692 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 231 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings 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 purchasing an additional 320 shares during the last quarter. 4.07% of the stock is currently owned by institutional investors.

WPP Company Profile (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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