JPMorgan Chase & Co. Lowers Omnicom Group (NYSE:OMC) Price Target to $116.00

Omnicom Group (NYSE:OMC) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $119.00 to $116.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 33.95% from the stock’s previous close.

A number of other brokerages have also recently issued reports on OMC. Wells Fargo & Company reduced their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 10th. Barclays reduced their price objective on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday. UBS Group increased their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Macquarie reissued an “outperform” rating and issued a $120.00 price target on shares of Omnicom Group in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.25.

Omnicom Group Price Performance

OMC opened at $86.60 on Monday. The company has a fifty day moving average price of $91.65 and a two-hundred day moving average price of $96.41. 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 firm has a market capitalization of $16.90 billion, a PE ratio of 11.83, a P/E/G ratio of 1.88 and a beta of 0.98. Omnicom Group has a 52 week low of $81.42 and a 52 week high of $107.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Resonant Capital Advisors LLC lifted its stake 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 valued at $613,000 after acquiring an additional 97 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Omnicom Group by 17.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 638 shares of the business services provider’s stock worth $66,000 after buying an additional 97 shares during the last quarter. Integrated Advisors Network LLC increased its position in Omnicom Group by 3.8% during the third quarter. Integrated Advisors Network LLC now owns 2,698 shares of the business services provider’s stock worth $279,000 after buying an additional 100 shares during the last quarter. Iowa State Bank raised its stake in Omnicom Group by 0.4% in the third quarter. Iowa State Bank now owns 24,447 shares of the business services provider’s stock valued at $2,528,000 after buying an additional 101 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Omnicom Group by 2.1% in the third quarter. Farther Finance Advisors LLC now owns 4,970 shares of the business services provider’s stock valued at $514,000 after buying an additional 102 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

About Omnicom Group

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.