WPP (NYSE:WPP) Raised to Buy at StockNews.com

StockNews.com upgraded shares of WPP (NYSE:WPP) from a hold rating to a buy rating in a report released on Sunday.

Separately, Citigroup upgraded shares of WPP to a strong-buy rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $46.00.

WPP Trading Down 0.4 %

Shares of WPP opened at $48.32 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.86 and a current ratio of 0.89. WPP has a fifty-two week low of $41.13 and a fifty-two week high of $54.21. The firm has a 50 day moving average price of $46.90 and a 200-day moving average price of $47.96. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 6.82 and a beta of 1.29.

WPP Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be paid a dividend of $0.954 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a yield of 5.7%. This is a positive change from WPP’s previous Semi-Annual dividend of $0.24. WPP’s payout ratio is presently 51.67%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in WPP by 767.1% in the second quarter. Blue Trust Inc. now owns 737 shares of the business services provider’s stock worth $35,000 after buying an additional 652 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in WPP in the 1st quarter worth approximately $39,000. Voisard Asset Management Group Inc. bought a new position in WPP in the 4th quarter valued at approximately $45,000. EverSource Wealth Advisors LLC boosted its stake in WPP by 62.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,320 shares of the business services provider’s stock valued at $66,000 after purchasing an additional 505 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in shares of WPP in the second quarter worth $80,000. Institutional investors own 4.34% of the company’s stock.

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.