WPP (NYSE:WPP) Shares Gap Up – Should You Buy?

Wpp Plc (NYSE:WPP)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $17.46, but opened at $18.49. WPP shares last traded at $18.9010, with a volume of 105,271 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Berenberg Bank assumed coverage on shares of WPP in a research report on Tuesday. They issued a “buy” rating on the stock. The Goldman Sachs Group assumed coverage on shares of WPP in a research report on Wednesday, June 3rd. They issued a “sell” rating on the stock. Barclays upgraded shares of WPP from an “underweight” rating to an “equal weight” rating in a research report on Friday, February 27th. Citigroup restated a “neutral” rating on shares of WPP in a research report on Thursday, April 30th. Finally, Wall Street Zen upgraded shares of WPP from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

WPP Stock Up 5.8%

The company has a debt-to-equity ratio of 1.48, a current ratio of 0.89 and a quick ratio of 0.89. The company has a 50-day moving average of $17.69 and a 200 day moving average of $18.99.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP boosted its stake in WPP by 38.9% during the third quarter. Allworth Financial LP now owns 1,852 shares of the business services provider’s stock worth $46,000 after buying an additional 519 shares during the period. Cetera Investment Advisers boosted its stake in WPP by 9.2% during the second quarter. Cetera Investment Advisers now owns 7,766 shares of the business services provider’s stock worth $272,000 after buying an additional 654 shares during the period. Rothschild Investment LLC boosted its stake in WPP by 47.7% during the third quarter. Rothschild Investment LLC now owns 2,038 shares of the business services provider’s stock worth $51,000 after buying an additional 658 shares during the period. Osaic Holdings Inc. boosted its stake in WPP by 105.8% during the second quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after buying an additional 717 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in WPP by 6.0% during the third quarter. Ameriprise Financial Inc. now owns 13,704 shares of the business services provider’s stock worth $343,000 after buying an additional 776 shares during the period. 4.34% of the stock is owned by hedge funds and other institutional investors.

WPP Company Profile

WPP plc (NYSE: WPP) is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world’s largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.