JPMorgan Chase & Co. Raises Omnicom Group (NYSE:OMC) Price Target to $108.00

Omnicom Group (NYSE:OMC) had its target price raised by research analysts at JPMorgan Chase & Co. from $104.00 to $108.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 17.06% from the stock’s current price.

A number of other analysts have also issued reports on the company. BNP Paribas upgraded Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price objective on the stock in a research note on Thursday, March 28th. StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. UBS Group assumed coverage on Omnicom Group in a research note on Thursday, January 11th. They set a “buy” rating and a $117.00 price objective on the stock. Macquarie boosted their price objective on Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $91.00 to $106.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Omnicom Group has a consensus rating of “Moderate Buy” and an average price target of $104.56.

Omnicom Group Stock Performance

Shares of OMC traded up $1.30 during mid-day trading on Wednesday, hitting $92.26. The stock had a trading volume of 2,449,028 shares, compared to its average volume of 1,621,949. The firm has a market cap of $18.19 billion, a P/E ratio of 13.30, a PEG ratio of 2.17 and a beta of 0.97. The business has a fifty day moving average price of $91.13 and a 200-day moving average price of $85.09. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.95 and a quick ratio of 0.86. Omnicom Group has a 52 week low of $72.20 and a 52 week high of $99.23.

Omnicom Group (NYSE:OMC) last issued its earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.04. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4 billion. Omnicom Group had a return on equity of 39.07% and a net margin of 9.47%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 earnings per share. On average, equities research analysts expect that Omnicom Group will post 7.73 EPS for the current year.

Insider Transactions at Omnicom Group

In other news, Director Linda Johnson Rice sold 507 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $86.66, for a total value of $43,936.62. Following the completion of the transaction, the director now directly owns 9,753 shares in the company, valued at approximately $845,194.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Omnicom Group

Hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP boosted its holdings in Omnicom Group by 683.2% during the 1st quarter. First Trust Advisors LP now owns 2,957,307 shares of the business services provider’s stock valued at $251,016,000 after acquiring an additional 2,579,717 shares during the period. Lazard Asset Management LLC boosted its holdings in Omnicom Group by 98.3% during the 3rd quarter. Lazard Asset Management LLC now owns 3,032,265 shares of the business services provider’s stock valued at $225,842,000 after acquiring an additional 1,503,249 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Omnicom Group during the 4th quarter valued at about $93,634,000. Price T Rowe Associates Inc. MD boosted its holdings in Omnicom Group by 81.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,527,561 shares of the business services provider’s stock valued at $144,111,000 after acquiring an additional 683,810 shares during the period. Finally, Boston Partners boosted its holdings in Omnicom Group by 21.7% during the 3rd quarter. Boston Partners now owns 3,727,701 shares of the business services provider’s stock valued at $277,726,000 after acquiring an additional 664,800 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

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.