Zacks Investment Research reiterated their buy rating on shares of WPP (NYSE:WPP) in a research report sent to investors on Saturday morning, Zacks.com reports. They currently have a $68.00 price objective on the business services provider’s stock.
According to Zacks, “WPP is in marketing communications services. They are made up of companies in: Advertising; Media Investment Management; Data Investment Management; Public Relations & Public Affairs; Branding & Identity; Healthcare Communications; Digital, eCommerce & Shopper Marketing; Specialist Communications. “
WPP has been the topic of several other research reports. Deutsche Bank reaffirmed a buy rating and issued a $1,090.00 target price on shares of WPP in a report on Thursday, October 17th. ValuEngine downgraded shares of WPP from a hold rating to a sell rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $579.00.
Shares of NYSE:WPP opened at $59.36 on Friday. The company has a market cap of $15.84 billion, a price-to-earnings ratio of 8.23 and a beta of 1.01. The firm’s 50-day simple moving average is $60.81 and its 200-day simple moving average is $60.27. WPP has a fifty-two week low of $50.31 and a fifty-two week high of $70.28.
A number of hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its holdings in WPP by 11.9% during the second quarter. Signaturefd LLC now owns 1,715 shares of the business services provider’s stock worth $108,000 after buying an additional 183 shares in the last quarter. Beacon Financial Group raised its position in WPP by 6.1% during the second quarter. Beacon Financial Group now owns 7,100 shares of the business services provider’s stock worth $447,000 after acquiring an additional 406 shares during the last quarter. Advisor Group Inc. raised its position in WPP by 20.2% during the second quarter. Advisor Group Inc. now owns 4,089 shares of the business services provider’s stock worth $258,000 after acquiring an additional 687 shares during the last quarter. Nkcfo LLC acquired a new position in WPP during the second quarter worth about $44,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in WPP by 26.0% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,886 shares of the business services provider’s stock worth $246,000 after acquiring an additional 803 shares during the last quarter. 3.96% of the stock is currently owned by hedge funds and other institutional investors.
WPP plc provides various communications services worldwide. The company operates through four segments: Advertising and Media Investment Management; Data Investment Management; Public Relations & Public Affairs; and Branding Consulting, Health & Wellness and Specialist Communications. The Advertising and Media Investment Management segment provides advertising services; and media planning and buying, and specialist sponsorship, and branded entertainment services.
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