Wpp Plc (NYSE:WPP) Receives Average Recommendation of “Hold” from Analysts

Wpp Plc (NYSE:WPP) has been given a consensus rating of “Hold” by the eight ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company.

Several equities research analysts have recently weighed in on WPP shares. The Goldman Sachs Group assumed coverage on shares of WPP in a research note on Wednesday, June 3rd. They set a “sell” rating for the company. Berenberg Bank initiated coverage on WPP in a research note on Tuesday, June 9th. They set a “buy” rating for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WPP in a research note on Tuesday, June 16th. Citigroup reiterated a “neutral” rating on shares of WPP in a research note on Thursday, April 30th. Finally, Rothschild & Co Redburn began coverage on WPP in a report on Thursday, May 28th. They issued a “buy” rating on the stock.

WPP Stock Performance

WPP stock opened at $18.33 on Monday. The company has a fifty day moving average price of $18.02 and a 200 day moving average price of $18.27. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.48. WPP has a 12 month low of $14.81 and a 12 month high of $29.71.

Hedge Funds Weigh In On WPP

Large investors have recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of WPP by 0.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,186,191 shares of the business services provider’s stock valued at $255,164,000 after acquiring an additional 47,289 shares in the last quarter. Mondrian Investment Partners LTD lifted its position in WPP by 1.5% in the fourth quarter. Mondrian Investment Partners LTD now owns 3,240,219 shares of the business services provider’s stock valued at $72,775,000 after purchasing an additional 48,714 shares during the period. Dimensional Fund Advisors LP lifted its position in WPP by 12.3% in the third quarter. Dimensional Fund Advisors LP now owns 861,579 shares of the business services provider’s stock valued at $21,555,000 after purchasing an additional 94,162 shares during the period. Royal Bank of Canada boosted its holdings in WPP by 7.5% in the 4th quarter. Royal Bank of Canada now owns 481,076 shares of the business services provider’s stock valued at $10,805,000 after purchasing an additional 33,433 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in WPP by 10.8% in the 2nd quarter. Bank of America Corp DE now owns 470,900 shares of the business services provider’s stock valued at $16,486,000 after purchasing an additional 45,866 shares in the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

About WPP

WPP plc (NYSE: WPP) is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world’s largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.