JPMorgan Chase & Co. Increases Omnicom Group (NYSE:OMC) Price Target to $118.00

Omnicom Group (NYSE:OMC) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $106.00 to $118.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 15.56% from the company’s current price.

A number of other research analysts have also commented on OMC. Bank of America upped their price objective on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. Macquarie reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Omnicom Group in a report on Wednesday, July 17th. Finally, UBS Group upped their price objective on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.30.

Omnicom Group Stock Down 1.2 %

Shares of Omnicom Group stock traded down $1.28 on Tuesday, reaching $102.11. 523,196 shares of the company were exchanged, compared to its average volume of 1,538,258. Omnicom Group has a one year low of $72.20 and a one year high of $104.80. The company has a market capitalization of $20.00 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 2.38 and a beta of 0.94. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. The company has a 50-day moving average of $97.69 and a 200 day moving average of $94.45.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.81 EPS. On average, equities research analysts forecast that Omnicom Group will post 7.88 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Linda Johnson Rice sold 488 shares of the company’s stock in a transaction on Friday, July 19th. The stock was 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 directly owns 10,356 shares in the company, valued at approximately $941,153.28. The sale was disclosed in a filing with the SEC, which is available through this link. In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now directly owns 10,356 shares in the company, valued at $941,153.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the transaction, the vice president now owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Omnicom Group

Several institutional investors and hedge funds have recently made changes to their positions in OMC. Jacobs Levy Equity Management Inc. increased its stake in shares of Omnicom Group by 319.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock valued at $140,317,000 after buying an additional 1,104,566 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Omnicom Group during the fourth quarter valued at approximately $93,634,000. Bank of New York Mellon Corp grew its holdings 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 buying an additional 892,494 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Omnicom Group during the second quarter worth $56,177,000. Finally, Morningstar Investment Services LLC grew its holdings in Omnicom Group by 98.7% during the fourth quarter. Morningstar Investment Services LLC now owns 1,199,557 shares of the business services provider’s stock worth $104,037,000 after buying an additional 595,746 shares in the last quarter. 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.