Barclays Downgrades WPP (NYSE:WPP) to Underweight

WPP (NYSE:WPP - Get Free Report) was downgraded by equities researchers at Barclays from an "equal weight" rating to an "underweight" rating in a note issued to investors on Wednesday,Finviz reports.

A number of other research firms have also recently commented on WPP. Wall Street Zen cut WPP from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. The Goldman Sachs Group began coverage on WPP in a research report on Wednesday, March 26th. They set a "neutral" rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

WPP Stock Performance

WPP opened at $35.48 on Wednesday. The firm has a fifty day moving average price of $38.17 and a 200 day moving average price of $42.60. WPP has a 1 year low of $31.52 and a 1 year high of $57.37. The stock has a market cap of $7.66 billion, a P/E ratio of 5.94 and a beta of 1.05. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.88 and a quick ratio of 0.88.

Hedge Funds Weigh In On WPP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC raised its holdings in WPP by 27.2% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 6,720,858 shares of the business services provider's stock valued at $255,124,000 after acquiring an additional 1,436,668 shares during the last quarter. Invesco Ltd. increased its position in 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 purchasing an additional 824,336 shares during the last quarter. Raymond James Financial Inc. purchased a new position in WPP during the fourth quarter worth about $8,724,000. Northern Trust Corp boosted its holdings in WPP by 83.5% in the 4th quarter. Northern Trust Corp now owns 253,640 shares of the business services provider's stock valued at $13,037,000 after purchasing an additional 115,416 shares during the last quarter. Finally, Optiver Holding B.V. grew its stake in shares of WPP by 104.6% in the 4th quarter. Optiver Holding B.V. now owns 141,488 shares of the business services provider's stock valued at $7,272,000 after buying an additional 72,342 shares during the period. 4.34% of the stock is owned by hedge funds and other institutional investors.

About WPP

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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