Zacks Research Downgrades WPP (NYSE:WPP) to Strong Sell

WPP (NYSE:WPP) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages also recently weighed in on WPP. Kepler Capital Markets downgraded WPP from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a research report on Wednesday, October 8th. Wall Street Zen lowered WPP from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of WPP in a research report on Thursday, July 10th. Finally, Barclays reiterated an “underweight” rating on shares of WPP in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

WPP Stock Up 2.6%

WPP opened at $18.14 on Tuesday. WPP has a 52 week low of $17.47 and a 52 week high of $57.37. The business’s fifty day simple moving average is $24.29 and its 200 day simple moving average is $30.39.

Hedge Funds Weigh In On WPP

A number of hedge funds have recently modified their holdings of WPP. Legacy Wealth Asset Management LLC increased its holdings in WPP by 4.1% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 10,660 shares of the business services provider’s stock valued at $373,000 after purchasing an additional 420 shares in the last quarter. Vident Advisory LLC increased its holdings in WPP by 8.0% during the 1st quarter. Vident Advisory LLC now owns 6,194 shares of the business services provider’s stock valued at $235,000 after purchasing an additional 459 shares in the last quarter. Assetmark Inc. increased its holdings in WPP by 88.3% during the 1st quarter. Assetmark Inc. now owns 996 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 467 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in WPP by 1.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 41,521 shares of the business services provider’s stock valued at $1,454,000 after purchasing an additional 553 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in WPP by 41.9% during the 2nd quarter. Blue Trust Inc. now owns 1,990 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 588 shares in the last quarter. 4.34% 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.