Omnicom Group (NYSE:OMC) Price Target Raised to $119.00 at JPMorgan Chase & Co.

Omnicom Group (NYSE:OMC) had its target price increased by JPMorgan Chase & Co. from $118.00 to $119.00 in a report issued on Wednesday morning, MarketBeat reports. They currently have an overweight rating on the business services provider’s stock.

Several other research analysts have also issued reports on the company. Bank of America increased their price target on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Macquarie reiterated an “outperform” rating and issued a $110.00 target price on shares of Omnicom Group in a report on Wednesday, July 17th. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $106.00 to $110.00 in a research note on Wednesday. Finally, UBS Group raised their price objective on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Omnicom Group currently has an average rating of “Moderate Buy” and a consensus price target of $110.11.

Omnicom Group Stock Performance

NYSE:OMC opened at $104.48 on Wednesday. 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 has a twelve month low of $73.28 and a twelve month high of $106.51. The company has a fifty day moving average of $100.30 and a 200-day moving average of $95.27. The firm has a market capitalization of $20.46 billion, a P/E ratio of 14.12, a P/E/G ratio of 2.39 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.01. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. During the same period in the previous year, the firm posted $1.86 earnings per share. As a group, sell-side analysts anticipate that Omnicom Group will post 7.88 EPS for the current year.

Insider Activity

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the sale, the vice president now owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Trading of Omnicom Group

Large investors have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. grew its stake in shares of Omnicom Group by 319.6% during 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 period. Bank of New York Mellon Corp boosted its position 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 purchased a new position in shares of Omnicom Group in the second quarter worth about $56,177,000. Boston Partners raised its position in shares of Omnicom Group by 11.0% in the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after purchasing an additional 383,560 shares during the period. Finally, Scout Investments Inc. bought a new stake in shares of Omnicom Group in the first quarter valued at approximately $36,715,000. 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.