Omnicom Group (NYSE:OMC) Price Target Raised to $124.00

Omnicom Group (NYSE:OMC) had its price objective increased by UBS Group from $120.00 to $124.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. UBS Group’s price objective suggests a potential upside of 17.78% from the stock’s current price.

Several other analysts also recently weighed in on OMC. JPMorgan Chase & Co. lifted their target price on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $106.00 to $110.00 in a research note on Wednesday. Bank of America lifted their target price on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. Finally, Macquarie reaffirmed an “outperform” rating and set a $110.00 target price on shares of Omnicom Group in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.20.

Omnicom Group Stock Performance

Shares of OMC traded up $1.26 during mid-day trading on Wednesday, hitting $105.28. The stock had a trading volume of 1,564,589 shares, compared to its average volume of 1,521,593. Omnicom Group has a fifty-two week low of $73.28 and a fifty-two week high of $105.93. The company has a market cap of $20.62 billion, a PE ratio of 14.24, a PEG ratio of 2.39 and a beta of 0.94. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The company’s fifty day simple moving average is $99.55 and its two-hundred day simple moving average is $95.07.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the firm posted $1.86 EPS. On average, equities analysts expect that Omnicom Group will post 7.88 earnings per share for the current year.

Insider Activity

In other news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction of $44,349.44. Following the transaction, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the transaction, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction on Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the transaction, the director now owns 10,356 shares in the company, valued at $941,153.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Boston Partners grew its stake in Omnicom Group by 11.0% in the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after purchasing an additional 383,560 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Omnicom Group by 37.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock worth $296,717,000 after purchasing an additional 892,494 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Omnicom Group by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock worth $269,734,000 after purchasing an additional 165,136 shares during the last quarter. Cooke & Bieler LP raised its holdings in Omnicom Group by 4.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock valued at $215,249,000 after acquiring an additional 109,406 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Omnicom Group by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after acquiring an additional 364,665 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.