Wells Fargo & Company Lowers Omnicom Group (NYSE:OMC) to Equal Weight

Wells Fargo & Company downgraded shares of Omnicom Group (NYSE:OMC) from an overweight rating to an equal weight rating in a research report released on Wednesday morning, Marketbeat reports. The brokerage currently has $110.00 price objective on the business services provider’s stock, up from their prior price objective of $106.00.

Several other analysts have also commented on the company. JPMorgan Chase & Co. raised their price objective on Omnicom Group from $106.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Bank of America boosted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. UBS Group increased their price objective on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Macquarie reissued an “outperform” rating and set a $110.00 target price on shares of Omnicom Group in a research note on Wednesday, July 17th. One investment 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.20.

Omnicom Group Stock Performance

Shares of NYSE OMC opened at $105.49 on Wednesday. The company has a 50 day simple moving average of $99.85 and a two-hundred day simple moving average of $95.15. The stock has a market cap of $20.66 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 2.39 and a beta of 0.94. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. Omnicom Group has a 12 month low of $73.28 and a 12 month high of $105.93.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the company earned $1.86 earnings per share. As a group, analysts predict that Omnicom Group will post 7.88 earnings per share for the current year.

Insider Transactions at Omnicom Group

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bleakley Financial Group LLC lifted its holdings in shares of Omnicom Group by 5.1% in the third quarter. Bleakley Financial Group LLC now owns 19,804 shares of the business services provider’s stock valued at $2,048,000 after purchasing an additional 963 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Omnicom Group by 4.3% in the 3rd quarter. Global Retirement Partners LLC now owns 16,759 shares of the business services provider’s stock valued at $1,733,000 after buying an additional 684 shares in the last quarter. One Wealth Advisors LLC purchased a new stake in Omnicom Group in the 3rd quarter valued at approximately $208,000. Mezzasalma Advisors LLC grew its holdings in Omnicom Group by 6.4% during the 3rd quarter. Mezzasalma Advisors LLC now owns 3,787 shares of the business services provider’s stock valued at $392,000 after buying an additional 229 shares during the last quarter. Finally, B.O.S.S. Retirement Advisors LLC increased its position in Omnicom Group by 5.4% during the third quarter. B.O.S.S. Retirement Advisors LLC now owns 17,121 shares of the business services provider’s stock worth $1,770,000 after buying an additional 880 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Company Profile

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.