Deutsche Bank Reaffirms Buy Rating for WPP (NYSE:WPP)

WPP (NYSE:WPP)‘s stock had its “buy” rating reiterated by investment analysts at Deutsche Bank in a research report issued on Thursday, Stock Target Advisor reports. They presently have a $1,090.00 target price on the business services provider’s stock.

Several other research analysts have also commented on WPP. Zacks Investment Research raised shares of WPP from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. ValuEngine lowered shares of WPP from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $1,090.00.

Shares of WPP stock opened at $59.42 on Thursday. The firm has a market cap of $16.12 billion, a PE ratio of 8.24 and a beta of 1.01. The company has a 50-day moving average of $60.80 and a two-hundred day moving average of $60.17. WPP has a 1-year low of $50.31 and a 1-year high of $70.28.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nkcfo LLC purchased a new position in shares of WPP in the second quarter valued at approximately $44,000. Bogart Wealth LLC purchased a new position in shares of WPP in the third quarter valued at approximately $63,000. Signaturefd LLC boosted its stake in shares of WPP by 11.9% in the second quarter. Signaturefd LLC now owns 1,715 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 183 shares during the period. Semmax Financial Advisors Inc. boosted its stake in shares of WPP by 83.6% in the second quarter. Semmax Financial Advisors Inc. now owns 2,113 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 962 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new position in shares of WPP in the second quarter valued at approximately $152,000. 3.96% of the stock is owned by institutional investors and hedge funds.

WPP Company Profile

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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