WPP (LON:WPP) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of WPP plc (LON:WPP) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 769.10 ($9.69) and traded as high as GBX 844.60 ($10.64). WPP shares last traded at GBX 823.20 ($10.37), with a volume of 3,685,676 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WPP shares. Deutsche Bank Aktiengesellschaft cut their target price on WPP from GBX 990 ($12.48) to GBX 950 ($11.97) and set a “buy” rating on the stock in a research report on Friday, August 9th. Shore Capital reiterated a “buy” rating on shares of WPP in a research report on Wednesday, October 23rd. Finally, Citigroup reissued a “buy” rating on shares of WPP in a research note on Thursday, September 5th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 946.67 ($11.93).

WPP Stock Performance

The company has a debt-to-equity ratio of 190.55, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of £8.89 billion, a PE ratio of 4,332.63, a P/E/G ratio of 13.47 and a beta of 1.13. The firm has a fifty day moving average price of GBX 787.21 and a two-hundred day moving average price of GBX 769.10.

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.