WPP (NYSE:WPP) Stock Rating Reaffirmed by Zacks Investment Research

Zacks Investment Research reissued their buy rating on shares of WPP (NYSE:WPP) in a research report sent to investors on Saturday, Zacks.com reports. They currently have a $68.00 target price 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. “

Several other research firms also recently issued reports on WPP. ValuEngine downgraded shares of WPP from a hold rating to a sell rating in a research note on Wednesday, July 17th. Deutsche Bank reiterated a buy rating and set a $1,090.00 price objective on shares of WPP in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $579.00.

WPP opened at $59.36 on Friday. WPP has a 52-week low of $50.31 and a 52-week high of $70.28. The company has a 50 day moving average of $60.81 and a two-hundred day moving average of $60.27. The company has a market cap of $15.84 billion, a P/E ratio of 8.23 and a beta of 1.01.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC grew its stake 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 during the period. Beacon Financial Group grew its stake 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 buying an additional 406 shares during the period. Advisor Group Inc. grew its stake 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 buying an additional 687 shares during the period. Nkcfo LLC purchased a new stake in WPP during the second quarter worth approximately $44,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake 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 buying an additional 803 shares during the period. Institutional investors own 3.96% of the company’s stock.

About WPP

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.

Read More: What Does a Sell-Side Analyst Rating Mean?

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Analyst Recommendations for WPP (NYSE:WPP)

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