WPP (NYSE:WPP) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• WPP has been upgraded to a "hold" rating by Wall Street Zen, moving up from a previous "sell" rating.
• Other analysts have mixed views, with Barclays maintaining an "underweight" rating and Zacks Research downgrading to a "strong sell."
• WPP's stock opened at $27.16, with a market capitalization of $5.86 billion and a notable 12-month high of $57.37.

WPP (NYSE:WPP - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Several other equities research analysts have also recently commented on WPP. Kepler Capital Markets cut WPP from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Barclays reissued an "underweight" rating on shares of WPP in a report on Friday, August 8th. Zacks Research cut WPP from a "hold" rating to a "strong sell" rating in a report on Thursday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of WPP in a report on Thursday, July 10th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, WPP has an average rating of "Reduce".

WPP Price Performance

NYSE:WPP traded down $0.48 during midday trading on Friday, hitting $25.75. 366,605 shares of the stock were exchanged, compared to its average volume of 331,460. WPP has a one year low of $24.28 and a one year high of $57.37. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 4.31 and a beta of 0.97. The business has a 50-day moving average price of $26.86 and a two-hundred day moving average price of $33.92. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.13.

Institutional Trading of WPP

Several large investors have recently added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC raised its stake in WPP by 4.1% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 10,660 shares of the business services provider's stock valued at $373,000 after purchasing an additional 420 shares during the period. Vident Advisory LLC raised its stake in WPP by 8.0% during the 1st quarter. Vident Advisory LLC now owns 6,194 shares of the business services provider's stock valued at $235,000 after purchasing an additional 459 shares during the period. Assetmark Inc. grew its holdings in shares of WPP by 88.3% during the 1st quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock valued at $38,000 after acquiring an additional 467 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of WPP by 1.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 34,710 shares of the business services provider's stock valued at $1,318,000 after acquiring an additional 498 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in shares of WPP by 1.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 41,521 shares of the business services provider's stock valued at $1,454,000 after acquiring an additional 553 shares in the last quarter. 4.34% of the stock is owned by institutional investors and hedge funds.

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.