Omnicom Group (NYSE:OMC) Sees Strong Trading Volume – Still a Buy?

Shares of Omnicom Group Inc. (NYSE:OMC) saw unusually-high trading volume on Friday . Approximately 5,006,795 shares changed hands during mid-day trading, an increase of 227% from the previous session’s volume of 1,530,322 shares.The stock last traded at $97.59 and had previously closed at $105.04.

Analysts Set New Price Targets

OMC has been the topic of a number of analyst reports. Macquarie increased their price objective on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Barclays lifted their price objective on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Bank of America upped their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Omnicom Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.11.

Omnicom Group Trading Down 8.1 %

The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The firm’s 50-day moving average is $102.20 and its 200 day moving average is $96.51. The firm has a market capitalization of $18.83 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 2.32 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period last year, the company earned $1.86 earnings per share. On average, equities analysts predict that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the transaction, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was 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 owns 15,375 shares in the company, valued at $1,524,738.75. This represents a 16.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Omnicom Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its holdings in Omnicom Group by 5.7% during the 3rd quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock worth $1,468,615,000 after acquiring an additional 759,980 shares during the period. Stifel Financial Corp lifted its stake in Omnicom Group by 6.8% during the third quarter. Stifel Financial Corp now owns 72,435 shares of the business services provider’s stock worth $7,489,000 after purchasing an additional 4,594 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Omnicom Group by 25.0% in the 3rd quarter. Quantinno Capital Management LP now owns 21,286 shares of the business services provider’s stock worth $2,201,000 after acquiring an additional 4,262 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in shares of Omnicom Group by 8.1% in the 3rd quarter. Royal London Asset Management Ltd. now owns 96,873 shares of the business services provider’s stock valued at $10,016,000 after purchasing an additional 7,244 shares in the last quarter. Finally, IHT Wealth Management LLC purchased a new position in Omnicom Group in the 3rd quarter worth $252,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

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.