Zacks Investment Research Lowers WPP (NYSE:WPP) to Sell

WPP (NYSE:WPPGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “WPP is in marketing communications services. They are made up of companies in: Advertising; Media Investment Management; Data Investment Management; Public Relations & Public Affairs; Branding & Identity; Healthcare Communications; Digital, eCommerce & Shopper Marketing; Specialist Communications. “

Other equities research analysts have also issued research reports about the company. Credit Suisse Group raised their price objective on WPP from GBX 1,155 ($14.72) to GBX 1,200 ($15.29) in a research note on Friday, February 25th. Bank of America lowered WPP from a “neutral” rating to an “underperform” rating and set a $75.00 price objective for the company. in a research note on Thursday, January 27th. Barclays lowered WPP from an “overweight” rating to an “equal weight” rating in a research note on Monday, March 14th. JPMorgan Chase & Co. lowered their price objective on WPP from GBX 1,320 ($16.82) to GBX 1,270 ($16.19) in a research note on Friday, March 18th. Finally, Oddo Bhf lowered WPP from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 25th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, WPP currently has an average rating of “Hold” and a consensus target price of $764.00.

Shares of NYSE:WPP traded up $0.06 during mid-day trading on Thursday, hitting $61.09. 671 shares of the company traded hands, compared to its average volume of 165,180. WPP has a 52-week low of $58.82 and a 52-week high of $83.69. The firm’s 50 day simple moving average is $67.22 and its 200 day simple moving average is $72.05.

Several institutional investors and hedge funds have recently modified their holdings of WPP. FSB Premier Wealth Management Inc. bought a new stake in shares of WPP in the 4th quarter worth approximately $32,000. CWM LLC bought a new stake in shares of WPP in the 4th quarter worth approximately $37,000. Liberty Wealth Management LLC bought a new stake in shares of WPP in the 3rd quarter worth approximately $41,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of WPP by 100.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 638 shares of the business services provider’s stock worth $48,000 after purchasing an additional 320 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of WPP by 50.1% in the 3rd 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. Institutional investors own 4.07% of the company’s stock.

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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