Omnicom Group’s (OMC) Outperform Rating Reaffirmed at Macquarie

Omnicom Group (NYSE:OMC)‘s stock had its “outperform” rating reaffirmed by investment analysts at Macquarie in a report issued on Wednesday,Benzinga reports. They presently have a $120.00 price objective on the business services provider’s stock. Macquarie’s target price would indicate a potential upside of 33.10% from the company’s previous close.

A number of other brokerages have also recently issued reports on OMC. Wells Fargo & Company dropped their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday. Barclays increased their target price on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their target price on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. UBS Group increased their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Bank of America raised their price target on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $108.89.

Omnicom Group Trading Down 2.1 %

Omnicom Group stock opened at $90.16 on Wednesday. The business has a 50 day moving average price of $102.03 and a two-hundred day moving average price of $97.29. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The stock has a market cap of $17.59 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94. Omnicom Group has a 12 month low of $82.97 and a 12 month high of $107.00.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the prior year, the firm posted $1.86 EPS. As a group, equities analysts forecast 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 firm’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 transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. This trade represents a 14.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC bought a new position in shares of Omnicom Group in the 2nd quarter worth $33,000. Northwest Investment Counselors LLC bought a new position in Omnicom Group during the third quarter worth about $33,000. Davis Capital Management bought a new position in Omnicom Group during the third quarter worth about $36,000. HM Payson & Co. lifted its holdings in Omnicom Group by 84.5% during the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after acquiring an additional 169 shares in the last quarter. Finally, Richardson Financial Services Inc. lifted its holdings in Omnicom Group by 66.3% during the second quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock worth $50,000 after acquiring an additional 224 shares in the last quarter. 91.97% of the stock is currently owned by 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.