WPP PLC (WPPGY) Given Consensus Recommendation of “Hold” by Brokerages
Shares of WPP PLC (NASDAQ:WPPGY) have earned a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $121.50.
Several equities research analysts have weighed in on WPPGY shares. UBS AG started coverage on WPP PLC in a report on Tuesday, June 13th. They issued a “buy” rating for the company. Zacks Investment Research upgraded WPP PLC from a “hold” rating to a “buy” rating and set a $124.00 target price for the company in a report on Friday, May 19th. ValuEngine cut WPP PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Wells Fargo & Company reiterated a “hold” rating on shares of WPP PLC in a report on Wednesday, April 12th. Finally, Deutsche Bank AG cut WPP PLC from a “buy” rating to a “hold” rating in a report on Monday.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sky Investment Group LLC raised its position in shares of WPP PLC by 3.3% in the second quarter. Sky Investment Group LLC now owns 24,187 shares of the business services provider’s stock worth $2,550,000 after buying an additional 782 shares in the last quarter. Creative Planning raised its position in shares of WPP PLC by 6.1% in the second quarter. Creative Planning now owns 8,917 shares of the business services provider’s stock worth $940,000 after buying an additional 514 shares in the last quarter. Simplex Trading LLC raised its position in shares of WPP PLC by 58.6% in the second quarter. Simplex Trading LLC now owns 1,473 shares of the business services provider’s stock worth $155,000 after buying an additional 544 shares in the last quarter. Capital One National Association purchased a new position in shares of WPP PLC during the second quarter worth $244,000. Finally, Cardinal Capital Management Inc. raised its position in shares of WPP PLC by 19.6% in the second quarter. Cardinal Capital Management Inc. now owns 54,060 shares of the business services provider’s stock worth $5,698,000 after buying an additional 8,845 shares in the last quarter. 3.97% of the stock is currently owned by institutional investors and hedge funds.
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WPP PLC (NASDAQ WPPGY) opened at 101.49 on Tuesday. The firm’s 50-day moving average price is $108.86 and its 200 day moving average price is $110.50. WPP PLC has a 12 month low of $100.05 and a 12 month high of $121.55. The stock has a market cap of $25.72 billion, a price-to-earnings ratio of 14.45 and a beta of 1.20.
WPP PLC Company Profile
WPP PLC is a parent company that, through its subsidiaries, is engaged in the provision of communications and marketing services worldwide. The Company has four segments: Advertising and Media Investment Management; Consumer Insight (formerly Information, Insight & Consultancy); Public Relations & Public Affairs, and Branding & Identity, Healthcare and Specialist Communications, which includes WPP Digital and direct, digital, promotional and relationship marketing.
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