WPP (NYSE:WPP) Stock Rating Lowered by Wall Street Zen

Key Points

• WPP has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, amidst mixed opinions from other research firms regarding the stock's outlook.
• The current consensus rating for WPP is "Hold," with a total of two sell ratings, two hold ratings, and one buy rating from analysts.
• Despite the recent downgrade, some hedge funds have significantly increased their stakes in WPP, indicating ongoing interest in the company.

Wall Street Zen downgraded shares of WPP (NYSE:WPP - Free Report) from a hold rating to a sell rating in a report released on Saturday.

Several other research analysts also recently commented on WPP. Barclays reaffirmed an "underweight" rating on shares of WPP in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of WPP in a research report on Thursday, July 10th. Finally, Kepler Capital Markets cut WPP from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

WPP Stock Performance

Shares of WPP stock traded up $0.44 during trading on Friday, reaching $24.99. The company had a trading volume of 352,856 shares, compared to its average volume of 366,247. The firm's 50 day simple moving average is $31.86 and its two-hundred day simple moving average is $37.73. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.86 and a quick ratio of 0.88. WPP has a one year low of $24.28 and a one year high of $57.37. The company has a market capitalization of $5.39 billion, a PE ratio of 4.19 and a beta of 1.01.

WPP Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.5033 per share. The ex-dividend date is Friday, October 10th. This represents a dividend yield of 1,060.0%. WPP's payout ratio is currently 8.21%.

Institutional Trading of WPP

Several institutional investors have recently bought and sold shares of WPP. Assetmark Inc. boosted its stake in WPP by 88.3% in the first quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock worth $38,000 after purchasing an additional 467 shares in the last quarter. Traub Capital Management LLC acquired a new position in WPP in the second quarter worth $52,000. Blue Trust Inc. lifted its stake in shares of WPP by 41.9% during the second quarter. Blue Trust Inc. now owns 1,990 shares of the business services provider's stock valued at $70,000 after acquiring an additional 588 shares during the period. Brooklyn Investment Group lifted its stake in shares of WPP by 3,450.0% during the first quarter. Brooklyn Investment Group now owns 1,917 shares of the business services provider's stock valued at $73,000 after acquiring an additional 1,863 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of WPP during the first quarter valued at $75,000. Institutional investors and hedge funds 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.