Omnicom Group (NYSE:OMC) Receives Outperform Rating from Macquarie

Omnicom Group (NYSE:OMC)‘s stock had its “outperform” rating restated by equities research analysts at Macquarie in a report issued on Wednesday,Benzinga reports. They currently have a $120.00 price target on the business services provider’s stock. Macquarie’s price objective would suggest a potential upside of 29.52% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Barclays raised their price objective on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Bank of America boosted their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. 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, October 16th. UBS Group increased their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company reduced their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Omnicom Group presently has an average rating of “Moderate Buy” and a consensus price target of $108.89.

Omnicom Group Stock Up 0.2 %

Shares of NYSE:OMC traded up $0.19 during trading on Wednesday, hitting $92.65. The company’s stock had a trading volume of 622,103 shares, compared to its average volume of 1,589,866. The company has a market capitalization of $18.08 billion, a PE ratio of 12.66, a PEG ratio of 2.32 and a beta of 0.94. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The stock’s 50-day moving average price is $102.43 and its two-hundred day moving average price is $97.34. Omnicom Group has a fifty-two week low of $82.97 and a fifty-two week high of $107.00.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same period in the prior year, the firm posted $1.86 EPS. As a group, sell-side analysts expect that Omnicom Group will post 7.94 EPS for the current year.

Insider Buying and Selling at Omnicom Group

In other news, CAO Andrew Castellaneta sold 4,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the sale, the chief accounting officer now owns 23,545 shares in the company, valued at $2,479,053.05. This represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Omnicom Group

Several hedge funds have recently made changes to their positions in OMC. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Omnicom Group by 4.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,302 shares of the business services provider’s stock worth $1,193,000 after acquiring an additional 510 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Omnicom Group by 3,657.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 107,550 shares of the business services provider’s stock valued at $9,647,000 after purchasing an additional 104,688 shares during the period. Blue Trust Inc. lifted its position in shares of Omnicom Group by 159.4% in the second quarter. Blue Trust Inc. now owns 1,209 shares of the business services provider’s stock worth $117,000 after purchasing an additional 743 shares in the last quarter. Gradient Investments LLC increased its stake in Omnicom Group by 15,916.7% in the 2nd quarter. Gradient Investments LLC now owns 961 shares of the business services provider’s stock valued at $86,000 after buying an additional 955 shares during the period. Finally, Boston Trust Walden Corp lifted its position in Omnicom Group by 8.2% in the 2nd quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock worth $16,723,000 after buying an additional 14,153 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.