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

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

A number of other equities analysts also recently issued reports on the company. UBS Group raised their price target on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. 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. Macquarie restated an “outperform” rating and set a $110.00 price target on shares of Omnicom Group in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $106.00 to $110.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.30.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $104.48 on Wednesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. The firm has a market cap of $20.46 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. The business has a 50-day simple moving average of $100.30 and a two-hundred day simple moving average of $95.27. Omnicom Group has a fifty-two week low of $73.28 and a fifty-two week high of $106.51.

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 net margin of 9.55% and a return on equity of 37.51%. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the company earned $1.86 earnings per share. On average, analysts expect that Omnicom Group will post 7.88 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction 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 completion of the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. This 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 at this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Omnicom Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Boston Trust Walden Corp grew its position in shares of Omnicom Group by 8.2% during the second quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock worth $16,723,000 after purchasing an additional 14,153 shares in the last quarter. Norden Group LLC bought a new stake in shares of Omnicom Group during the first quarter valued at approximately $1,860,000. Central Pacific Bank Trust Division raised its position in shares of Omnicom Group by 16.3% during the third quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock valued at $295,000 after buying an additional 401 shares during the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Omnicom Group in the first quarter worth $1,534,000. Finally, SG Americas Securities LLC boosted its position in shares of Omnicom Group by 37.0% during the second quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider’s stock worth $5,784,000 after acquiring an additional 17,414 shares during the last quarter. 91.97% of the stock is owned by 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.