Macquarie Increases Omnicom Group (NYSE:OMC) Price Target to $120.00

Omnicom Group (NYSE:OMC) had its target price boosted by stock analysts at Macquarie from $110.00 to $120.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Macquarie’s price objective would indicate a potential upside of 13.94% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on OMC. JPMorgan Chase & Co. raised 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. UBS Group boosted their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America raised their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. Finally, Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $106.00 to $110.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.20.

Omnicom Group Stock Up 1.2 %

Shares of NYSE:OMC traded up $1.30 during midday trading on Wednesday, reaching $105.32. The company had a trading volume of 2,057,523 shares, compared to its average volume of 1,524,474. Omnicom Group has a one year low of $73.28 and a one year high of $105.93. 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 stock has a market capitalization of $20.63 billion, a P/E ratio of 14.22, a PEG ratio of 2.39 and a beta of 0.94. The stock’s fifty day moving average price is $99.55 and its 200-day moving average price is $95.07.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the firm earned $1.86 EPS. Equities research analysts expect that Omnicom Group will post 7.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the transaction, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Omnicom Group 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 transaction of $297,510.00. Following the completion of the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction of $44,349.44. Following the completion of the transaction, the director now directly owns 10,356 shares in the company, valued at approximately $941,153.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Omnicom Group

Several hedge funds have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Omnicom Group during the 2nd quarter valued at $33,000. Innealta Capital LLC purchased a new position in shares of Omnicom Group during the second quarter valued at $33,000. Davis Capital Management acquired a new position in Omnicom Group during the third quarter valued at $36,000. Northwest Investment Counselors LLC purchased a new position in Omnicom Group during the 1st quarter valued at about $50,000. Finally, Richardson Financial Services Inc. grew its holdings in shares of Omnicom Group by 66.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 224 shares in 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.