WPP plc (NYSE:WPP) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of WPP plc (NYSE:WPP) have been given a consensus recommendation of “Reduce” by the five brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $46.00.

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

Institutional Investors Weigh In On WPP

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in WPP in the 1st quarter valued at about $39,000. Voisard Asset Management Group Inc. purchased a new stake in shares of WPP in the 4th quarter worth approximately $45,000. CVA Family Office LLC purchased a new stake in shares of WPP in the 4th quarter worth approximately $49,000. EverSource Wealth Advisors LLC lifted its position in shares of WPP by 62.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,320 shares of the business services provider’s stock worth $66,000 after purchasing an additional 505 shares during the period. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of WPP in the 4th quarter worth approximately $111,000. 4.34% of the stock is owned by hedge funds and other institutional investors.

WPP Stock Down 0.8 %

WPP stock opened at $47.25 on Thursday. WPP has a 12 month low of $41.13 and a 12 month high of $57.30. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average price of $49.50 and a 200 day moving average price of $48.31.

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.