Analysts Set WPP plc (NYSE:WPP) Target Price at $46.00

WPP plc (NYSE:WPP) has been assigned an average rating of “Reduce” from the five brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $46.00.

Separately, StockNews.com cut WPP from a “buy” rating to a “hold” rating in a report on Monday, May 20th.

Institutional Trading of WPP

Several hedge funds have recently modified their holdings of the stock. Mondrian Investment Partners LTD increased its holdings in WPP by 46.5% during the 1st quarter. Mondrian Investment Partners LTD now owns 3,350,015 shares of the business services provider’s stock worth $158,791,000 after purchasing an additional 1,062,708 shares during the period. Goldman Sachs Group Inc. raised its holdings in WPP by 40.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,155,648 shares of the business services provider’s stock valued at $54,974,000 after acquiring an additional 332,914 shares in the last quarter. FMR LLC raised its holdings in WPP by 7.1% in the third quarter. FMR LLC now owns 972,751 shares of the business services provider’s stock valued at $43,365,000 after acquiring an additional 64,087 shares in the last quarter. Brandes Investment Partners LP lifted its stake in WPP by 47.9% in the fourth quarter. Brandes Investment Partners LP now owns 567,653 shares of the business services provider’s stock worth $27,003,000 after acquiring an additional 183,955 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in WPP by 5.1% during the 1st quarter. Raymond James & Associates now owns 185,454 shares of the business services provider’s stock worth $8,790,000 after acquiring an additional 8,930 shares in the last quarter. 4.34% of the stock is currently owned by institutional investors and hedge funds.

WPP Stock Up 0.5 %

NYSE:WPP opened at $52.83 on Wednesday. WPP has a 52 week low of $41.13 and a 52 week high of $57.30. The stock’s fifty day moving average is $49.64 and its two-hundred day moving average is $47.73. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.86 and a current ratio of 0.86.

WPP Company Profile

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.