Omnicom Group (NYSE:OMC) Given New $120.00 Price Target at Macquarie

Omnicom Group (NYSE:OMC) had its price objective increased by Macquarie from $110.00 to $120.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their price target on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $106.00 to $110.00 in a research note on Wednesday. Bank of America lifted their price target on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. Finally, UBS Group boosted their price objective on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and an average price target of $110.30.

Omnicom Group Trading Down 0.7 %

Shares of Omnicom Group stock opened at $104.48 on Wednesday. The stock has a market cap of $20.46 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. The firm has a fifty day moving average price of $100.30 and a 200 day moving average price of $95.27. Omnicom Group has a 1 year low of $73.28 and a 1 year high of $106.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81.

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

Insider Buying and Selling at Omnicom Group

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the 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 completion of the sale, the vice president now directly owns 15,375 shares in the company, valued at $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Omnicom Group

A number of large investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. increased its stake in shares of Omnicom Group by 319.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock worth $140,317,000 after acquiring an additional 1,104,566 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Omnicom Group by 37.0% during the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock worth $296,717,000 after purchasing an additional 892,494 shares during the period. Los Angeles Capital Management LLC acquired a new position in Omnicom Group in the 2nd quarter valued at about $56,177,000. Boston Partners grew its stake in shares of Omnicom Group by 11.0% in the 1st quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after buying an additional 383,560 shares during the period. Finally, Scout Investments Inc. acquired a new stake in shares of Omnicom Group during the 1st quarter worth approximately $36,715,000. 91.97% of the stock is currently owned by hedge funds and other 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.