Morgan Stanley Reaffirms “Equal Weight” Rating for WPP (LON:WPP)

WPP (LON:WPP – Get Rating)‘s stock had its “equal weight” rating restated by research analysts at Morgan Stanley in a report issued on Tuesday, Marketbeat Ratings reports. They currently have a GBX 950 ($12.11) price target on the stock. Morgan Stanley’s price objective indicates a potential downside of 6.08% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Barclays cut shares of WPP to an “equal weight” rating and reduced their price target for the company from GBX 1,475 ($18.80) to GBX 1,250 ($15.93) in a research report on Monday, March 14th. The Goldman Sachs Group set a GBX 1,450 ($18.48) price target on shares of WPP in a report on Thursday, January 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 1,400 ($17.84) price target on shares of WPP in a report on Friday, February 25th. Berenberg Bank reissued a “hold” rating and set a GBX 1,185 ($15.10) price objective on shares of WPP in a report on Wednesday, March 23rd. Finally, UBS Group set a GBX 1,550 ($19.76) price objective on shares of WPP in a report on Friday, January 14th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, WPP currently has a consensus rating of “Buy” and a consensus price target of GBX 1,259.80 ($16.06).

WPP opened at GBX 1,011.50 ($12.89) on Tuesday. The company has a debt-to-equity ratio of 167.75, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market capitalization of £11.33 billion and a price-to-earnings ratio of 19.27. The business has a 50-day moving average of GBX 1,032.54 and a two-hundred day moving average of GBX 1,077.63. WPP has a 12 month low of GBX 868.80 ($11.07) and a 12 month high of GBX 1,231.50 ($15.70).

In other WPP news, insider Thomas Ilube purchased 1,000 shares of WPP stock in a transaction dated Monday, February 28th. The shares were bought at an average cost of GBX 1,033 ($13.17) per share, for a total transaction of £10,330 ($13,165.94). Also, insider John Rogers sold 105,949 shares of WPP stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of GBX 1,045 ($13.32), for a total transaction of £1,107,167.05 ($1,411,122.93).

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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