Omnicom Group (NYSE:OMC) Reaches New 12-Month High – Here’s Why

Omnicom Group Inc. (NYSE:OMC) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $106.71 and last traded at $106.68, with a volume of 8144 shares trading hands. The stock had previously closed at $103.18.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Bank of America increased their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Barclays raised their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Macquarie upped their target price on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. UBS Group increased their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $106.00 to $110.00 in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have given 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 a consensus price target of $110.11.

Omnicom Group Stock Down 0.3 %

The firm’s 50-day simple moving average is $101.63 and its 200 day simple moving average is $96.14. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The company has a market cap of $20.38 billion, a P/E ratio of 14.30, a PEG ratio of 2.29 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, beating 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 36.59% and a net margin of 9.45%. During the same period in the prior year, the business posted $1.86 EPS. On average, research analysts forecast that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Insider Buying and Selling 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 shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction dated 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 directly owns 15,375 shares in the company, valued at $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction dated 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 owns 23,545 shares in the company, valued at $2,479,053.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Omnicom Group

A number of hedge funds and other institutional investors have recently made changes to their positions in OMC. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Omnicom Group in the 2nd quarter valued at about $33,000. Innealta Capital LLC bought a new position in shares of Omnicom Group during the second quarter worth about $33,000. Northwest Investment Counselors LLC acquired a new stake in Omnicom Group in the 3rd quarter valued at approximately $33,000. Davis Capital Management bought a new stake in Omnicom Group in the 3rd quarter valued at approximately $36,000. Finally, HM Payson & Co. boosted its position in Omnicom Group by 84.5% during the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after acquiring an additional 169 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

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.