WPP (NYSE:WPP) Stock Rating Lowered by StockNews.com

WPP (NYSE:WPP) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

WPP has been the subject of a number of other research reports. Barclays cut shares of WPP from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 28th. Kepler Capital Markets upgraded WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th. Finally, The Goldman Sachs Group started coverage on WPP in a report on Wednesday, March 26th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

WPP Trading Down 0.7%

Shares of NYSE:WPP opened at $39.79 on Thursday. The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of 6.67, a PEG ratio of 7.06 and a beta of 1.04. WPP has a 12-month low of $31.52 and a 12-month high of $57.37. The business has a 50-day moving average price of $37.75 and a 200 day moving average price of $45.52.

Institutional Trading of WPP

Large investors have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC grew its stake in WPP by 27.2% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 6,720,858 shares of the business services provider’s stock worth $255,124,000 after purchasing an additional 1,436,668 shares in the last quarter. Invesco Ltd. grew its position in shares of WPP by 50.8% during the first quarter. Invesco Ltd. now owns 2,448,296 shares of the business services provider’s stock worth $92,937,000 after buying an additional 824,336 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of WPP during the fourth quarter worth approximately $8,724,000. Northern Trust Corp increased its stake in shares of WPP by 83.5% during the fourth quarter. Northern Trust Corp now owns 253,640 shares of the business services provider’s stock worth $13,037,000 after buying an additional 115,416 shares during the period. Finally, Optiver Holding B.V. raised its holdings in WPP by 104.6% in the fourth quarter. Optiver Holding B.V. now owns 141,488 shares of the business services provider’s stock valued at $7,272,000 after acquiring an additional 72,342 shares in the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

WPP Company Profile

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.