WPP (LON:WPP) Trading Up 28.6% – Here’s What Happened

Shares of WPP plc (LON:WPP) were up 28.6% during mid-day trading on Thursday . The stock traded as high as GBX 400 and last traded at GBX 395. 22,847,670 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 32,058,201 shares. The stock had previously closed at GBX 307.10.

Wall Street Analysts Forecast Growth

Several research firms have commented on WPP. Citigroup increased their target price on shares of WPP from GBX 275 to GBX 285 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Berenberg Bank reiterated a “buy” rating and set a GBX 405 price target on shares of WPP in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, WPP currently has an average rating of “Hold” and a consensus price target of GBX 350.

WPP Stock Performance

The company has a debt-to-equity ratio of 268.98, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a fifty day simple moving average of GBX 275.02 and a 200 day simple moving average of GBX 268.76. The company has a market cap of £4.26 billion, a price-to-earnings ratio of -19.75, a P/E/G ratio of 13.47 and a beta of 0.68.

Insider Buying and Selling at WPP

In related news, insider Cindy Rose sold 88,227 shares of WPP stock in a transaction on Monday, June 15th. The shares were sold at an average price of GBX 282, for a total value of £248,800.14. Also, insider Peter Agnefjäll bought 75,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were purchased at an average cost of GBX 281 per share, with a total value of £210,750. Company insiders own 2.04% of the company’s stock.

About WPP

WPP is the creative transformation company, using the power of creativity to build better futures for our people, planet, clients and communities.

We are a world leader in marketing services, with deep AI, data and technology capabilities, global presence and unrivalled creative talent.