WPP (NYSE:WPP) Upgraded to Outperform by Oddo Bhf

Oddo Bhf upgraded shares of WPP (NYSE:WPPGet Rating) from a neutral rating to an outperform rating in a research report released on Tuesday morning, The Fly reports.

A number of other analysts have also recently issued reports on WPP. Morgan Stanley cut their target price on shares of WPP from GBX 750 ($9.06) to GBX 690 ($8.34) in a research note on Thursday, September 8th. Redburn Partners reissued a neutral rating on shares of WPP in a research note on Thursday, September 8th. Barclays dropped their price objective on shares of WPP from GBX 950 ($11.48) to GBX 900 ($10.87) in a research note on Friday, September 16th. ING Group started coverage on shares of WPP in a report on Thursday, September 8th. They set a buy rating for the company. They noted that the move was a valuation call. Finally, UBS Group reduced their target price on shares of WPP from GBX 1,500 ($18.12) to GBX 1,225 ($14.80) in a research note on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $904.29.

WPP Price Performance

WPP opened at $43.91 on Tuesday. The firm’s fifty day moving average is $48.06 and its two-hundred day moving average is $50.37. The company has a current ratio of 0.91, a quick ratio of 0.93 and a debt-to-equity ratio of 1.08. WPP has a twelve month low of $41.60 and a twelve month high of $83.69.

WPP Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 14th will be given a $0.9052 dividend. This represents a dividend yield of 4.2%. The ex-dividend date of this dividend is Thursday, October 13th.

Hedge Funds Weigh In On WPP

Several large investors have recently modified their holdings of WPP. WCG Wealth Advisors LLC purchased a new stake in WPP during the 2nd quarter worth about $388,000. Captrust Financial Advisors lifted its position in WPP by 51.2% during the 2nd quarter. Captrust Financial Advisors now owns 1,565 shares of the business services provider’s stock worth $79,000 after acquiring an additional 530 shares during the period. Creative Planning lifted its holdings in shares of WPP by 3.8% in the 2nd quarter. Creative Planning now owns 10,686 shares of the business services provider’s stock valued at $541,000 after buying an additional 394 shares during the period. Cubist Systematic Strategies LLC increased its stake in WPP by 49.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 45,722 shares of the business services provider’s stock valued at $2,313,000 after purchasing an additional 15,053 shares in the last quarter. Finally, Millennium Management LLC increased its position in WPP by 44.7% during the second quarter. Millennium Management LLC now owns 19,412 shares of the business services provider’s stock worth $982,000 after buying an additional 5,997 shares in the last quarter. Institutional investors and hedge funds own 4.01% of the company’s stock.

About WPP

(Get Rating)

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.

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