WPP PLC (NASDAQ:WPPGY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “WPP operates in a highly competitive and fragmented communication services industry. The company depends on a limited number of big clients for a significant portion of its revenues. Loss of any of these big clients could adversely impact the company’s prospects. In addition, significant international operations expose it to risk of fluctuation in foreign exchange rates, since most of its revenues come from countries other than the U.K. The company is also likely to be stifled by the renegotiated deals and restrictions imposed on trade with other European Union members post Brexit. However, a geographically superior position in new markets and functional strength in new media and data investment management will likely help WPP in achieving steady revenue growth in the future. Continued acquisitions in key markets remain tailwinds.”
Separately, Jefferies Group lowered shares of WPP PLC from a “buy” rating to a “hold” rating in a report on Monday, September 26th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $133.00.
Shares of WPP PLC (NASDAQ:WPPGY) traded down 0.19% on Thursday, reaching $114.46. 22,448 shares of the company were exchanged. WPP PLC has a 1-year low of $95.67 and a 1-year high of $121.55. The stock has a market capitalization of $29.39 billion, a PE ratio of 27.35 and a beta of 1.32. The company has a 50-day moving average price of $117.08 and a 200 day moving average price of $114.30.
A number of institutional investors have recently made changes to their positions in the company. Rathbone Brothers plc boosted its position in shares of WPP PLC by 8.3% in the second quarter. Rathbone Brothers plc now owns 3,245 shares of the company’s stock valued at $339,000 after buying an additional 250 shares during the period. Geode Capital Management LLC boosted its position in shares of WPP PLC by 0.7% in the first quarter. Geode Capital Management LLC now owns 11,295 shares of the company’s stock valued at $1,315,000 after buying an additional 77 shares during the period. Finally, US Bancorp DE boosted its position in shares of WPP PLC by 5.1% in the second quarter. US Bancorp DE now owns 192,850 shares of the company’s stock valued at $20,156,000 after buying an additional 9,338 shares during the period. Hedge funds and other institutional investors own 4.86% of the company’s stock.
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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