WPP (NYSE:WPP) Stock Rating Upgraded by Zacks Investment Research

WPP (NYSE:WPPGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “

Several other research analysts also recently commented on WPP. Credit Suisse Group raised their price objective on shares of WPP from GBX 1,200 ($14.79) to GBX 1,210 ($14.92) in a report on Thursday, April 28th. Berenberg Bank boosted their price objective on WPP from GBX 1,185 ($14.61) to GBX 1,230 ($15.16) in a research note on Friday, April 29th. JPMorgan Chase & Co. raised their target price on WPP from GBX 1,280 ($15.78) to GBX 1,330 ($16.40) in a research note on Thursday, April 28th. Oddo Bhf downgraded shares of WPP from an “outperform” rating to a “neutral” rating in a report on Tuesday, January 25th. Finally, Barclays downgraded shares of WPP from an “overweight” rating to an “equal weight” rating in a report on Monday, March 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $787.00.

Shares of NYSE:WPP traded down $0.31 during midday trading on Thursday, reaching $59.12. The company had a trading volume of 706 shares, compared to its average volume of 166,246. WPP has a 52-week low of $57.61 and a 52-week high of $83.69. The company’s 50 day moving average price is $64.60 and its 200 day moving average price is $71.36.

Institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley boosted its holdings in WPP by 6.3% in the second quarter. Morgan Stanley now owns 51,753 shares of the business services provider’s stock worth $3,508,000 after purchasing an additional 3,062 shares during the last quarter. Advisor Group Holdings Inc. raised its position in WPP by 22.3% in the third quarter. Advisor Group Holdings Inc. now owns 6,835 shares of the business services provider’s stock worth $458,000 after acquiring an additional 1,244 shares during the period. BlackRock Inc. boosted its stake in shares of WPP by 0.3% during the 3rd quarter. BlackRock Inc. now owns 464,340 shares of the business services provider’s stock worth $31,130,000 after acquiring an additional 1,448 shares during the last quarter. Creative Planning grew its position in shares of WPP by 10.8% during the 3rd quarter. Creative Planning now owns 10,637 shares of the business services provider’s stock valued at $713,000 after acquiring an additional 1,041 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of WPP by 16.3% in the 3rd quarter. Goldman Sachs Group Inc. now owns 662,597 shares of the business services provider’s stock worth $44,421,000 after purchasing an additional 92,664 shares in the last quarter. Institutional investors and hedge funds own 4.07% of the company’s stock.

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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