WPP (NYSE:WPP) Stock Dropped to “Strong Sell” by Zacks Research

Zacks Research cut shares of WPP (NYSE:WPP) from a hold rating to a strong sell rating in a research note released on Monday,Zacks reports.

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

WPP Stock Performance

Shares of NYSE:WPP opened at $28.07 on Monday. WPP has a 1 year low of $14.81 and a 1 year high of $28.77. The business has a fifty day moving average price of $25.96 and a two-hundred day moving average price of $20.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Jacobi Capital Management LLC bought a new stake in WPP in the 3rd quarter valued at about $59,000. First Command Advisory Services Inc. bought a new position in WPP during the third quarter worth about $40,000. Signaturefd LLC boosted 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 worth $85,000 after purchasing an additional 1,198 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of WPP in the third quarter worth about $310,000. Finally, Legacy Wealth Asset Management LLC increased its stake in shares of WPP by 2.6% in the third quarter. Legacy Wealth Asset Management LLC now owns 19,476 shares of the business services provider’s stock worth $481,000 after purchasing an additional 488 shares in the last quarter. 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.