JPMorgan Chase & Co. Raises Omnicom Group (NYSE:OMC) Price Target to $119.00

Omnicom Group (NYSE:OMC) had its price objective lifted by JPMorgan Chase & Co. from $118.00 to $119.00 in a report published on Wednesday morning, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has an overweight rating on the business services provider’s stock.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company cut Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $106.00 to $110.00 in a research note on Wednesday. Bank of America upped their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. Macquarie reissued an “outperform” rating and issued a $110.00 price target on shares of Omnicom Group in a report on Wednesday, July 17th. Finally, UBS Group upped their price objective on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group presently has an average rating of “Moderate Buy” and an average target price of $110.30.

Omnicom Group Trading Down 0.7 %

Shares of OMC opened at $104.48 on Wednesday. Omnicom Group has a fifty-two week low of $73.28 and a fifty-two week high of $106.51. The firm has a market cap of $20.46 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 2.39 and a beta of 0.94. The firm has a 50 day moving average price of $100.30 and a 200-day moving average price of $95.27. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93.

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

Insiders Place Their Bets

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Omnicom Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Resonant Capital Advisors LLC boosted its holdings in Omnicom Group by 1.7% in the third quarter. Resonant Capital Advisors LLC now owns 5,885 shares of the business services provider’s stock worth $613,000 after acquiring an additional 97 shares in the last quarter. NovaPoint Capital LLC boosted its stake in Omnicom Group by 4.3% in the 3rd quarter. NovaPoint Capital LLC now owns 35,486 shares of the business services provider’s stock worth $3,669,000 after purchasing an additional 1,455 shares in the last quarter. Blue Trust Inc. grew its position in Omnicom Group by 122.0% during the 3rd quarter. Blue Trust Inc. now owns 2,684 shares of the business services provider’s stock valued at $277,000 after purchasing an additional 1,475 shares during the last quarter. OmniStar Financial Group Inc. increased its stake in Omnicom Group by 101.7% during the 3rd quarter. OmniStar Financial Group Inc. now owns 15,460 shares of the business services provider’s stock valued at $1,599,000 after purchasing an additional 7,796 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in Omnicom Group by 4.6% in the third quarter. V Square Quantitative Management LLC now owns 4,794 shares of the business services provider’s stock worth $496,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors 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.