WPP (NYSE:WPP) Rating Increased to Buy at StockNews.com

WPP (NYSE:WPP) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Separately, Citigroup raised WPP to a “strong-buy” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.00.

WPP Stock Up 3.3 %

Shares of WPP opened at $45.61 on Wednesday. WPP has a twelve month low of $41.13 and a twelve month high of $54.21. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.09. The stock’s fifty day simple moving average is $46.89 and its 200 day simple moving average is $48.16.

Institutional Investors Weigh In On WPP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in WPP during the 4th quarter worth approximately $1,279,000. Cerity Partners LLC lifted its position in shares of WPP by 46.2% during the fourth quarter. Cerity Partners LLC now owns 7,763 shares of the business services provider’s stock worth $369,000 after purchasing an additional 2,453 shares during the last quarter. Signaturefd LLC grew its stake in WPP by 10.3% in the fourth quarter. Signaturefd LLC now owns 9,451 shares of the business services provider’s stock worth $450,000 after purchasing an additional 881 shares in the last quarter. Cetera Trust Company N.A bought a new stake in WPP in the fourth quarter valued at about $148,000. Finally, Meritage Portfolio Management raised its stake in WPP by 210.3% during the fourth quarter. Meritage Portfolio Management now owns 59,399 shares of the business services provider’s stock valued at $2,826,000 after buying an additional 40,254 shares in the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

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.