Citigroup Raises WPP (LON:WPP) Price Target to GBX 285

Key Points

• Citigroup raised its price target for WPP from GBX 275 to GBX 285, keeping a "neutral" rating and implying about a 6.94% upside from the prior close.
• WPP traded at GBX 266.50 midday with a market cap of £2.87 billion, reporting quarterly EPS of GBX (20) and showing negative return on equity and net margin.
• Insider activity: Philip Jansen purchased 50,000 shares at GBX 255 while Cindy Rose sold 41,571 shares at GBX 256; insiders own 2.03% of the stock.

WPP (LON:WPP - Get Free Report) had its price objective lifted by stock analysts at Citigroup from GBX 275 to GBX 285 in a report released on Thursday,Digital Look reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's price objective points to a potential upside of 6.94% from the stock's previous close.

WPP Stock Down 0.5%

WPP stock traded down GBX 1.40 during midday trading on Thursday, hitting GBX 266.50. 22,236,129 shares of the company were exchanged, compared to its average volume of 31,821,447. The company's fifty day moving average price is GBX 251.87 and its 200-day moving average price is GBX 291.53. The company has a market cap of £2.87 billion, a PE ratio of -13.33, a price-to-earnings-growth ratio of 13.47 and a beta of 0.60. The company has a debt-to-equity ratio of 334.84, a current ratio of 0.89 and a quick ratio of 0.89. WPP has a fifty-two week low of GBX 218.50 and a fifty-two week high of GBX 616.20.

WPP (LON:WPP - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported GBX (20) earnings per share (EPS) for the quarter. WPP had a negative return on equity of 7.54% and a negative net margin of 1.59%. On average, research analysts predict that WPP will post 81.6125654 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Philip Jansen purchased 50,000 shares of the stock in a transaction dated Thursday, February 26th. The stock was acquired at an average cost of GBX 255 per share, for a total transaction of £127,500. Also, insider Cindy Rose sold 41,571 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of GBX 256, for a total value of £106,421.76. 2.03% of the stock is currently owned by insiders.

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.

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