WPP (NYSE:WPP) Stock Gets Downgrade from Zacks Research

WPP (NYSE:WPP) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks reports.

Several other equities analysts have also weighed in on WPP. Citigroup reissued a “neutral” rating on shares of WPP in a report on Wednesday, October 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of WPP in a research note on Friday, September 11th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of WPP in a research note on Tuesday, September 8th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, WPP has a consensus rating of “Hold”.

WPP Stock Performance

Shares of WPP stock opened at $28.07 on Monday. The company has a 50 day moving average of $25.96 and a 200-day moving average of $20.75. WPP has a 12-month low of $14.81 and a 12-month high of $28.77.

Institutional Trading of WPP

A number of hedge funds and other institutional investors have recently bought and sold shares of WPP. First Command Advisory Services Inc. bought a new stake in shares of WPP during the 3rd quarter valued at about $40,000. Jacobi Capital Management LLC bought a new stake in WPP during the third quarter valued at approximately $59,000. Signaturefd LLC lifted its position in WPP by 53.8% during the third quarter. Signaturefd LLC now owns 3,424 shares of the business services provider’s stock valued at $85,000 after purchasing an additional 1,198 shares during the last quarter. QRG Capital Management Inc. purchased a new position in WPP in the 2nd quarter worth approximately $176,000. Finally, Crossmark Global Holdings Inc. purchased a new position in WPP in the 3rd quarter worth approximately $310,000. Institutional investors own 4.34% of the company’s stock.

WPP Company Profile

WPP plc is a global communications and marketing services company headquartered in London. It helps businesses and organizations build brands and reach customers through advertising, media planning and buying, public relations, creative services, production, commerce and marketing technology. Its network includes agencies and specialist businesses such as Ogilvy, VML, Burson and Hogarth. WPP works with clients across a broad range of industries and serves markets around the world. The company traces its origins to Wire and Plastic Products, founded in 1971.