Brokerages Set WPP plc (NYSE:WPP) Price Target at $46.00

Shares of WPP plc (NYSE:WPP) have been assigned a consensus recommendation of “Reduce” from the five research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $46.00.

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

WPP Stock Up 1.4 %

Shares of WPP stock opened at $52.55 on Wednesday. The business has a 50-day simple moving average of $49.32 and a 200-day simple moving average of $47.56. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.86. WPP has a one year low of $41.13 and a one year high of $57.30.

Institutional Investors Weigh In On WPP

Large investors have recently modified their holdings of the company. Mondrian Investment Partners LTD raised its stake in shares of WPP by 46.5% during the first quarter. Mondrian Investment Partners LTD now owns 3,350,015 shares of the business services provider’s stock worth $158,791,000 after purchasing an additional 1,062,708 shares during the last quarter. Goldman Sachs Group Inc. raised its position in WPP by 40.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,155,648 shares of the business services provider’s stock worth $54,974,000 after acquiring an additional 332,914 shares in the last quarter. FMR LLC raised its position in WPP by 7.1% in the third quarter. FMR LLC now owns 972,751 shares of the business services provider’s stock worth $43,365,000 after acquiring an additional 64,087 shares in the last quarter. Brandes Investment Partners LP raised its position in WPP by 47.9% in the fourth quarter. Brandes Investment Partners LP now owns 567,653 shares of the business services provider’s stock worth $27,003,000 after acquiring an additional 183,955 shares in the last quarter. Finally, Raymond James & Associates raised its position in WPP by 5.1% in the first quarter. Raymond James & Associates now owns 185,454 shares of the business services provider’s stock worth $8,790,000 after acquiring an additional 8,930 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.