Omnicom Group (NYSE:OMC) Stock Rating Upgraded by Argus

Omnicom Group (NYSE:OMC) was upgraded by Argus to a “hold” rating in a research note issued on Monday, Zacks reports.

A number of other research analysts have also recently weighed in on OMC. Zacks Research cut shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. The Goldman Sachs Group started coverage on shares of Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price on the stock. Weiss Ratings raised shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Wells Fargo & Company boosted their price target on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Finally, Rothschild & Co Redburn started coverage on shares of Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Price Performance

OMC stock opened at $79.80 on Monday. The business’s fifty day moving average price is $83.24 and its 200 day moving average price is $78.86. Omnicom Group has a 12-month low of $66.33 and a 12-month high of $89.57. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $21.89 billion, a PE ratio of 68.79, a P/E/G ratio of 0.69 and a beta of 0.65.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The business’s revenue was up 63.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.05 earnings per share. On average, sell-side analysts anticipate that Omnicom Group will post 10.35 EPS for the current year.

Insider Activity at Omnicom Group

In related news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $88.73, for a total transaction of $122,891.05. Following the sale, the director directly owned 11,719 shares in the company, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Omnicom Group during the 2nd quarter worth about $2,082,476,000. Bank of New York Mellon Corp acquired a new stake in shares of Omnicom Group in the 2nd quarter valued at about $914,156,000. Geode Capital Management LLC grew its stake in Omnicom Group by 57.1% during the 4th quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock worth $690,327,000 after buying an additional 3,117,188 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Omnicom Group by 89.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,106,022 shares of the business services provider’s stock worth $493,061,000 after buying an additional 2,883,520 shares during the period. Finally, Capital Research Global Investors increased its position in Omnicom Group by 60.1% during the fourth quarter. Capital Research Global Investors now owns 4,691,101 shares of the business services provider’s stock worth $378,806,000 after buying an additional 1,760,469 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

About Omnicom Group

Omnicom Group Inc (NYSE: OMC) is a global marketing and communications holding company. Through a network of agencies and specialized businesses, it provides advertising, branding, media planning and buying, public relations, customer relationship management, digital marketing, experiential marketing and healthcare communications services.

Omnicom’s agency brands have included BBDO Worldwide, DDB Worldwide, TBWA\Worldwide, Omnicom Media Group, FleishmanHillard and Ketchum. These businesses serve clients across industries, including consumer products, healthcare, technology, financial services, automotive and telecommunications, helping organizations develop brand strategies, create campaigns and engage audiences through traditional and digital channels.

Omnicom was formed in 1986 through the merger of advertising companies BBDO, Doyle Dane Bernbach and Needham Harper Worldwide.