Barclays Raises Omnicom Group (NYSE:OMC) Price Target to $121.00

Omnicom Group (NYSE:OMC) had its price objective boosted by Barclays from $110.00 to $121.00 in a research note published on Thursday, Benzinga reports. The firm currently has an overweight rating on the business services provider’s stock.

Several other analysts have also recently weighed in on OMC. Macquarie boosted their price target on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. UBS Group boosted their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. 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 note on Wednesday, October 16th. Finally, Bank of America raised their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.11.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $104.48 on Thursday. The company’s 50 day moving average price is $100.30 and its two-hundred day moving average price is $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 has a fifty-two week low of $73.28 and a fifty-two week high of $106.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data 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. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the business posted $1.86 EPS. On average, equities analysts forecast that Omnicom Group will post 7.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s 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 transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Omnicom Group

Several hedge funds have recently modified their holdings of OMC. Boston Partners boosted its holdings in Omnicom Group by 11.0% in the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock worth $374,795,000 after acquiring an additional 383,560 shares in the last quarter. Bank of New York Mellon Corp grew its position in Omnicom Group by 37.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock valued at $296,717,000 after purchasing an additional 892,494 shares during the period. Lazard Asset Management LLC increased its stake in Omnicom Group by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock valued at $269,734,000 after purchasing an additional 165,136 shares in the last quarter. Cooke & Bieler LP raised its holdings in Omnicom Group by 4.8% during the second quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock worth $215,249,000 after buying an additional 109,406 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Omnicom Group by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after buying an additional 364,665 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.