Wells Fargo & Company Lowers Omnicom Group (NYSE:OMC) Price Target to $78.00

Omnicom Group (NYSE:OMC) had its price objective cut by equities researchers at Wells Fargo & Company from $84.00 to $78.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 10.17% from the stock’s current price.

Several other brokerages have also recently weighed in on OMC. Citigroup reissued a “buy” rating and issued a $103.00 price objective on shares of Omnicom Group in a research note on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on shares of Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a research note on Thursday, July 10th. Barclays lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. UBS Group reduced their price objective on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Finally, Bank of America raised shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Monday, June 23rd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.43.

Omnicom Group Trading Down 4.4%

Shares of NYSE:OMC opened at $70.80 on Wednesday. Omnicom Group has a 12-month low of $68.37 and a 12-month high of $107.00. The stock has a market cap of $13.81 billion, a PE ratio of 10.16, a P/E/G ratio of 1.62 and a beta of 0.92. The business has a 50 day moving average of $72.96 and a 200-day moving average of $78.14. The company has a quick ratio of 0.87, a current ratio of 1.01 and a debt-to-equity ratio of 1.24.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, beating the consensus estimate of $2.02 by $0.03. Omnicom Group had a net margin of 8.67% and a return on equity of 34.16%. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the business earned $1.95 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts forecast that Omnicom Group will post 8.25 earnings per share for the current year.

Institutional Trading of Omnicom Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. grew its stake in shares of Omnicom Group by 17,506.1% in the 1st quarter. Pacer Advisors Inc. now owns 2,744,080 shares of the business services provider’s stock worth $227,512,000 after buying an additional 2,728,494 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Omnicom Group by 50.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider’s stock worth $513,922,000 after buying an additional 1,992,695 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Omnicom Group during the 4th quarter worth approximately $150,819,000. FMR LLC grew its position in Omnicom Group by 250.1% during the 4th quarter. FMR LLC now owns 2,010,547 shares of the business services provider’s stock worth $172,987,000 after purchasing an additional 1,436,231 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in Omnicom Group by 44.5% during the 1st quarter. Baird Financial Group Inc. now owns 3,896,270 shares of the business services provider’s stock worth $323,040,000 after purchasing an additional 1,199,725 shares during the last quarter. 91.97% of the stock is 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.