WPP (NYSE:WPP) Cut to Underweight at Barclays

WPP (NYSE:WPP) was downgraded by investment analysts at Barclays from an “equal weight” rating to an “underweight” rating in a research note issued on Wednesday, Marketbeat reports.

WPP has been the topic of several other reports. The Goldman Sachs Group initiated coverage on shares of WPP in a report on Wednesday, March 26th. They set a “neutral” rating on the stock. Wall Street Zen downgraded WPP from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

WPP Trading Up 1.2%

WPP stock opened at $34.81 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $7.51 billion, a PE ratio of 5.83 and a beta of 1.05. The firm’s 50-day moving average is $38.13 and its 200 day moving average is $42.40. WPP has a 12 month low of $31.52 and a 12 month high of $57.37.

Institutional Investors Weigh In On WPP

Institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. grew its position in shares of WPP by 52,800.0% in the fourth quarter. Assetmark Inc. now owns 529 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 528 shares in the last quarter. Smartleaf Asset Management LLC raised its position in WPP by 453.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider’s stock valued at $61,000 after purchasing an additional 966 shares during the period. Brooklyn Investment Group boosted its position 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 worth $73,000 after buying an additional 1,863 shares during the period. Quantbot Technologies LP acquired a new position in WPP in the 1st quarter valued at about $75,000. Finally, Russell Investments Group Ltd. lifted its position in shares of WPP by 57.0% during the fourth quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider’s stock worth $111,000 after purchasing an additional 787 shares in the last quarter. 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.