WPP (NYSE:WPP – Get Rating) had its price objective raised by stock analysts at Morgan Stanley from GBX 730 ($8.96) to GBX 770 ($9.45) in a research note issued on Friday, The Fly reports.
WPP has been the subject of several other reports. JPMorgan Chase & Co. lifted their price target on WPP from GBX 1,210 ($14.84) to GBX 1,260 ($15.46) in a report on Monday, December 12th. Deutsche Bank Aktiengesellschaft dropped their price target on WPP from GBX 1,370 ($16.81) to GBX 1,100 ($13.50) in a report on Monday, October 17th. Oddo Bhf raised WPP from a “neutral” rating to an “outperform” rating in a report on Tuesday, September 20th. Credit Suisse Group dropped their price target on WPP from GBX 1,210 ($14.84) to GBX 950 ($11.66) in a report on Monday, September 12th. Finally, Barclays dropped their price target on WPP from GBX 900 ($11.04) to GBX 850 ($10.43) in a report on Thursday, October 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $886.75.
WPP Price Performance
NYSE:WPP opened at $48.64 on Friday. The stock has a 50 day simple moving average of $48.07 and a 200 day simple moving average of $45.39. WPP has a 1-year low of $39.67 and a 1-year high of $83.69.
Hedge Funds Weigh In On WPP
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WPP. Vanguard Personalized Indexing Management LLC raised its holdings in shares of WPP by 4.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,930 shares of the business services provider’s stock worth $249,000 after buying an additional 210 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of WPP by 32.8% during the 3rd quarter. IFP Advisors Inc now owns 899 shares of the business services provider’s stock worth $74,000 after buying an additional 222 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of WPP by 26.2% during the 3rd quarter. Global Retirement Partners LLC now owns 1,203 shares of the business services provider’s stock worth $53,000 after buying an additional 250 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of WPP by 34.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 977 shares of the business services provider’s stock worth $63,000 after buying an additional 251 shares in the last quarter. Finally, Archford Capital Strategies LLC raised its holdings in shares of WPP by 5.0% during the 3rd quarter. Archford Capital Strategies LLC now owns 5,389 shares of the business services provider’s stock worth $222,000 after buying an additional 259 shares in the last quarter. 4.01% of the stock is owned by institutional investors and hedge funds.
About WPP
WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.
Further Reading
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