Omnicom Group (NYSE:OMC) Given New $124.00 Price Target at UBS Group

Omnicom Group (NYSE:OMC) had its price target hoisted by UBS Group from $120.00 to $124.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

Several other equities research analysts have also issued reports on the stock. Bank of America increased their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. increased their price target on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $106.00 to $110.00 in a research note on Wednesday. Finally, Macquarie reissued an “outperform” rating and issued a $110.00 price target on shares of Omnicom Group in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Omnicom Group presently has an average rating of “Moderate Buy” and an average price target of $109.20.

Omnicom Group Stock Performance

Shares of OMC stock opened at $105.49 on Wednesday. The stock has a market cap of $20.66 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. Omnicom Group has a 52-week low of $73.28 and a 52-week high of $105.93. The business has a 50-day simple moving average of $99.85 and a 200-day simple moving average of $95.15. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data 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. The business had revenue of $3.88 billion for 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 in the prior year, the firm posted $1.86 EPS. On average, equities analysts expect that Omnicom Group will post 7.88 EPS for the current year.

Insider Activity

In related news, Director Linda Johnson Rice sold 488 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $90.88, for a total transaction of $44,349.44. Following the completion of the sale, the director now owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was 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 owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the transaction, the director now directly owns 10,356 shares in the company, valued at $941,153.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Omnicom Group during the second quarter worth about $33,000. Innealta Capital LLC acquired a new stake in shares of Omnicom Group during the 2nd quarter worth approximately $33,000. Davis Capital Management purchased a new stake in shares of Omnicom Group during the 3rd quarter valued at approximately $36,000. Northwest Investment Counselors LLC acquired a new position in Omnicom Group in the first quarter valued at approximately $50,000. Finally, Richardson Financial Services Inc. grew its position in Omnicom Group by 66.3% in 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 during the period. Institutional investors and hedge funds 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.