Omnicom Group (NYSE:OMC) Cut to Equal Weight at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Omnicom Group (NYSE:OMC) from an overweight rating to an equal weight rating in a research note published on Wednesday morning, Marketbeat.com reports. The brokerage currently has $110.00 price target on the business services provider’s stock, up from their prior price target of $106.00.

Several other research analysts have also recently weighed in on the company. Macquarie reissued an “outperform” rating and set a $110.00 target price on shares of Omnicom Group in a report on Wednesday, July 17th. UBS Group raised their price target on shares of Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. boosted their price objective on shares of Omnicom Group from $106.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Finally, Bank of America raised their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.30.

Omnicom Group Stock Down 0.7 %

Shares of OMC opened at $104.48 on Wednesday. The firm has a market cap of $20.46 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. Omnicom Group has a 52 week low of $73.28 and a 52 week high of $106.51. The firm’s 50-day simple moving average is $100.30 and its 200 day simple moving average is $95.27.

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. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations 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 previous year, the company posted $1.86 earnings per share. On average, analysts forecast that Omnicom Group will post 7.88 earnings per share for the current year.

Insider Activity at Omnicom Group

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction 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 transaction, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vest Financial LLC lifted its stake in Omnicom Group by 9.4% in the 3rd quarter. Vest Financial LLC now owns 278,787 shares of the business services provider’s stock valued at $28,824,000 after purchasing an additional 24,013 shares during the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of Omnicom Group by 1.7% during the third quarter. Resonant Capital Advisors LLC now owns 5,885 shares of the business services provider’s stock worth $613,000 after buying an additional 97 shares in the last quarter. NovaPoint Capital LLC increased its holdings in shares of Omnicom Group by 4.3% during the third quarter. NovaPoint Capital LLC now owns 35,486 shares of the business services provider’s stock worth $3,669,000 after buying an additional 1,455 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Omnicom Group by 122.0% in the 3rd quarter. Blue Trust Inc. now owns 2,684 shares of the business services provider’s stock valued at $277,000 after acquiring an additional 1,475 shares during the last quarter. Finally, OmniStar Financial Group Inc. boosted its holdings in shares of Omnicom Group by 101.7% during the 3rd quarter. OmniStar Financial Group Inc. now owns 15,460 shares of the business services provider’s stock valued at $1,599,000 after acquiring an additional 7,796 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

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.