WPP (NYSE: WPP – Get Valuation) saw its target price lowered by analysts at JPMorgan Chase & Co. from 1,290 GBX ($15.59) to 1,210 GBX ($14.62) in a report on Friday, reports The Fly.
Other equity research analysts have also recently released reports on the company. Credit Suisse Group lowered its price target on WPP from 1,210 GBX ($14.62) to 950 GBX ($11.48) in a Monday, September 12 report. Redburn Partners reissued a “neutral” rating on WPP shares in a Thursday, September 8 research note. Morgan Stanley lowered its target price on WPP from 750 GBX ($9.06) to 690 GBX ($8.34) in a Thursday, September 8 research note. Barclays lowered its target price on WPP from 950 GBX ($11.48) to 900 GBX ($10.87) in a Friday, September 16 research note. Finally, ING Group supported WPP coverage in a Thursday, September 8 research note. They issued a “buy” rating for the company. They noted that the move was a review call. Two analysts have assigned the stock a sell rating, six have issued a hold rating and four have assigned the stock a buy rating. Based on data from MarketBeat.com, WPP has a consensus rating of “Hold” and an average target price of $897.14.
WPP price performance
Shares of WPP traded down $1.44 in Friday’s midday session, hitting $41.97. 1,734 shares of the company were traded, against an average volume of 179,998. The company has a debt ratio of 1.08, a current ratio of 0.91 and a quick ratio of 0.93. The company has a market capitalization of $9.17 billion, a P/E ratio of 7.16, a PEG ratio of 0.89 and a beta of 1.31. WPP has a 52-week low of $39.67 and a 52-week high of $83.69. The company has a 50-day simple moving average of $45.21 and a 200-day simple moving average of $48.94.
WPP Institutional Negotiation
A number of institutional investors have recently changed their stake in the company. WCG Wealth Advisors LLC acquired a new stake in WPP stock in the second quarter worth approximately $388,000. Captrust Financial Advisors increased its position in WPP shares by 51.2% in the second quarter. Captrust Financial Advisors now owns 1,565 shares of the business services provider valued at $79,000 after acquiring an additional 530 shares in the last quarter. Creative Planning increased its position in WPP shares by 3.8% in the second quarter. Creative Planning now owns 10,686 shares of the business services provider valued at $541,000 after acquiring 394 additional shares in the last quarter. Cubist Systematic Strategies LLC increased its position in WPP shares by 49.1% in the second quarter. Cubist Systematic Strategies LLC now owns 45,722 shares of the business services provider valued at $2,313,000 after acquiring an additional 15,053 shares in the last quarter. Finally, Millennium Management LLC increased its position in WPP shares by 44.7% in the second quarter. Millennium Management LLC now owns 19,412 shares of the business services provider valued at $982,000 after acquiring 5,997 additional shares in the last quarter. 4.01% of the shares are currently held by institutional investors.
WPP Company Profile
(Get a rating)
WPP plc, a creative transformation company, provides communications, experience, commerce and technology services in North America, UK, Continental Western Europe, 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 Specialty Agencies.
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