Wpp Plc (NASDAQ:WPPGY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and 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 research note on Monday, September 26th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Wpp Plc has a consensus rating of “Hold” and a consensus target price of $133.00.
Wpp Plc (NASDAQ:WPPGY) opened at 112.52 on Thursday. The stock’s 50 day moving average is $116.95 and its 200 day moving average is $114.29. Wpp Plc has a one year low of $95.67 and a one year high of $121.55. The firm has a market capitalization of $28.90 billion, a P/E ratio of 26.82 and a beta of 1.32.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in 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. Rathbone Brothers plc increased its position in 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. Finally, US Bancorp DE increased its position in 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. 4.86% of the stock is owned by institutional investors.
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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