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

Shares of WPP plc (LON:WPP) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 777.59 ($9.66) and traded as high as GBX 832.40 ($10.34). WPP shares last traded at GBX 814 ($10.11), with a volume of 1,829,230 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on WPP shares. JPMorgan Chase & Co. raised their target price on shares of WPP from GBX 860 ($10.68) to GBX 1,040 ($12.92) and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Shore Capital reiterated a “buy” rating on shares of WPP in a research note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of GBX 996.67 ($12.38).

WPP Stock Performance

The firm’s 50 day moving average is GBX 843.45 and its 200-day moving average is GBX 777.59. The stock has a market capitalization of £8.79 billion, a price-to-earnings ratio of 4,284.21, a PEG ratio of 13.47 and a beta of 1.13. The company has a debt-to-equity ratio of 190.55, a quick ratio of 0.89 and a current ratio of 0.89.

Insiders Place Their Bets

In other news, insider Joanne Wilson sold 8,794 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of GBX 860 ($10.68), for a total value of £75,628.40 ($93,948.32). Insiders own 0.22% of the company’s stock.

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.