Omnicom Group (NYSE:OMC) Rating Increased to Overweight at Barclays

Omnicom Group (NYSE:OMC) was upgraded by stock analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage currently has a $110.00 price target on the business services provider’s stock, up from their previous price target of $100.00. Barclays‘s price objective suggests a potential upside of 15.69% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. BNP Paribas upgraded shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price for the company in a research report on Thursday, March 28th. JPMorgan Chase & Co. raised their price objective on shares of Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $91.00 to $106.00 in a report on Wednesday, April 17th. Moffett Nathanson raised their price target on Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Finally, StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

Omnicom Group Price Performance

Omnicom Group stock opened at $95.08 on Tuesday. The business’s 50 day simple moving average is $93.12 and its 200 day simple moving average is $87.14. Omnicom Group has a 12 month low of $72.20 and a 12 month high of $99.23. The company has a market cap of $18.62 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 2.18 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Monday, February 5th. The business services provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.04. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts forecast that Omnicom Group will post 7.81 EPS for the current year.

Insider Buying and Selling at Omnicom Group

In related news, Director Linda Johnson Rice sold 453 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $92.68, for a total value of $41,984.04. Following the transaction, the director now directly owns 9,830 shares in the company, valued at $911,044.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OMC. OFI Invest Asset Management bought a new stake in Omnicom Group during the third quarter worth about $25,000. HHM Wealth Advisors LLC purchased a new stake in Omnicom Group in the fourth quarter worth approximately $26,000. Frazier Financial Advisors LLC bought a new position in Omnicom Group during the fourth quarter valued at approximately $26,000. Pinnacle Bancorp Inc. raised its stake in shares of Omnicom Group by 61.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock worth $28,000 after acquiring an additional 125 shares in the last quarter. Finally, Richardson Financial Services Inc. bought a new stake in shares of Omnicom Group in the 4th quarter worth approximately $29,000. 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.