WPP (NYSE:WPP) Rating Lowered to “Strong Sell” at Zacks Research

WPP (NYSE:WPP) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday, Zacks reports.

WPP has been the subject of several other reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of WPP in a report on Tuesday, September 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of WPP in a report on Friday, September 11th. Finally, Citigroup reissued a “neutral” rating on shares of WPP in a research report on Wednesday, October 21st. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, WPP currently has a consensus rating of “Hold”.

WPP Trading Up 1.1%

Shares of WPP stock opened at $28.07 on Monday. WPP has a one year low of $14.81 and a one year high of $28.77. The business’s 50 day moving average price is $25.96 and its 200 day moving average price is $20.75.

Hedge Funds Weigh In On WPP

Several large investors have recently modified their holdings of the business. Jacobi Capital Management LLC acquired a new position in WPP in the third quarter valued at about $59,000. First Command Advisory Services Inc. acquired a new stake in shares of WPP during the third quarter valued at about $40,000. Signaturefd LLC raised its stake in shares of WPP by 53.8% in the 3rd quarter. Signaturefd LLC now owns 3,424 shares of the business services provider’s stock valued at $85,000 after acquiring an additional 1,198 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of WPP in the 3rd quarter valued at approximately $310,000. Finally, Legacy Wealth Asset Management LLC raised its stake in shares of WPP by 2.6% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 19,476 shares of the business services provider’s stock valued at $481,000 after acquiring an additional 488 shares during the period. Institutional investors and hedge funds own 4.34% of the company’s stock.

About WPP

WPP plc is a global communications and marketing services company headquartered in London. It helps businesses and organizations build brands and reach customers through advertising, media planning and buying, public relations, creative services, production, commerce and marketing technology. Its network includes agencies and specialist businesses such as Ogilvy, VML, Burson and Hogarth. WPP works with clients across a broad range of industries and serves markets around the world. The company traces its origins to Wire and Plastic Products, founded in 1971.