The Goldman Sachs Group Initiates Coverage on WPP (NYSE:WPP)

Equities research analysts at The Goldman Sachs Group initiated coverage on shares of WPP (NYSE:WPP) in a research report issued on Wednesday. The firm set a “neutral” rating on the business services provider’s stock.

Several other equities research analysts also recently issued reports on the stock. Kepler Capital Markets raised shares of WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th. Barclays cut shares of WPP from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, WPP has a consensus rating of “Moderate Buy”.

WPP Trading Up 0.4 %

NYSE:WPP opened at $39.78 on Wednesday. WPP has a 1 year low of $38.90 and a 1 year high of $57.37. The stock has a 50-day moving average price of $44.69 and a two-hundred day moving average price of $49.25. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 6.66, a PEG ratio of 7.06 and a beta of 1.20.

Institutional Investors Weigh In On WPP

Several hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in WPP in the fourth quarter valued at approximately $962,000. Quantinno Capital Management LP increased its holdings in shares of WPP by 55.8% in the fourth quarter. Quantinno Capital Management LP now owns 54,443 shares of the business services provider’s stock valued at $2,798,000 after purchasing an additional 19,493 shares during the last quarter. Mork Capital Management LLC bought a new position in shares of WPP in the fourth quarter valued at about $987,000. Graham Capital Management L.P. bought a new stake in shares of WPP during the 4th quarter worth about $872,000. Finally, Jane Street Group LLC bought a new stake in shares of WPP during the 4th quarter worth about $2,292,000. 4.34% of the stock is currently owned by institutional investors and hedge funds.

WPP Company Profile

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.