WPP (LON:WPP) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of WPP plc (LON:WPP) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 773.74 ($9.73) and traded as high as GBX 859.80 ($10.81). WPP shares last traded at GBX 854.20 ($10.74), with a volume of 3,614,331 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WPP shares. Shore Capital restated a “buy” rating on shares of WPP in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on WPP from GBX 860 ($10.81) to GBX 1,040 ($13.08) and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Finally, Citigroup reiterated a “buy” rating on shares of WPP in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, WPP currently has an average rating of “Moderate Buy” and an average target price of GBX 996.67 ($12.53).

WPP Price Performance

The company has a debt-to-equity ratio of 190.55, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of £9.12 billion, a P/E ratio of 4,442.11, a P/E/G ratio of 13.47 and a beta of 1.13. The firm’s fifty day moving average is GBX 832.54 and its two-hundred day moving average is GBX 773.74.

Insider Transactions at WPP

In other news, insider Joanne Wilson sold 8,794 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of GBX 860 ($10.81), for a total value of £75,628.40 ($95,082.22). Corporate insiders own 0.22% 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.