Omnicom Group (NYSE:OMC) Price Target Increased to $120.00 by Analysts at Macquarie

Omnicom Group (NYSE:OMC) had its price objective hoisted by Macquarie from $110.00 to $120.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

Several other equities analysts have also weighed in on the stock. UBS Group lifted their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $106.00 to $110.00 in a research note on Wednesday. Finally, Bank of America raised their target price on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.11.

Omnicom Group Trading Down 0.7 %

NYSE OMC opened at $104.48 on Wednesday. Omnicom Group has a 1 year low of $73.28 and a 1 year high of $106.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81. The company has a market capitalization of $20.46 billion, a PE ratio of 14.12, a P/E/G ratio of 2.39 and a beta of 0.94. The company has a fifty day moving average of $100.30 and a 200 day moving average of $95.27.

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

Insider Buying and Selling

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 15,375 shares of the company’s stock, valued at $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Omnicom Group

Hedge funds have recently modified their holdings of the business. Davis Capital Management acquired a new stake in Omnicom Group in the 3rd quarter valued at about $36,000. Innealta Capital LLC purchased a new stake in shares of Omnicom Group in the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Omnicom Group in the second quarter valued at approximately $33,000. Northwest Investment Counselors LLC purchased a new position in Omnicom Group during the first quarter worth approximately $50,000. Finally, Richardson Financial Services Inc. boosted its stake in Omnicom Group by 66.3% during the second quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock worth $50,000 after buying an additional 224 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

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.