WPP (LON:WPP) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

WPP plc (LON:WPP)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 270 and traded as high as GBX 297.20. WPP shares last traded at GBX 294.50, with a volume of 4,321,057 shares.

Analysts Set New Price Targets

A number of research firms have weighed in on WPP. Berenberg Bank restated a “buy” rating and issued a GBX 405 target price on shares of WPP in a research report on Tuesday, June 9th. Citigroup lifted their price target on WPP from GBX 275 to GBX 285 and gave the company a “neutral” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of GBX 350.

WPP Trading Up 4.2%

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 268.98. The stock has a market capitalization of £3.18 billion, a P/E ratio of -14.72, a PEG ratio of 13.47 and a beta of 0.68. The firm’s 50-day simple moving average is GBX 270.64 and its 200 day simple moving average is GBX 270.

Insider Activity at WPP

In other WPP news, insider Peter Agnefjäll bought 75,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were acquired at an average cost of GBX 281 per share, for a total transaction of £210,750. Also, insider Cindy Rose sold 88,227 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of GBX 282, for a total transaction of £248,800.14. Insiders own 2.04% of the company’s stock.

About WPP

WPP is the creative transformation company, using the power of creativity to build better futures for our people, planet, clients and communities.

We are a world leader in marketing services, with deep AI, data and technology capabilities, global presence and unrivalled creative talent.