Omnicom Group (NYSE:OMC) Raised to Hold at Argus

Omnicom Group (NYSE:OMC) was upgraded by stock analysts at Argus to a “hold” rating in a report released on Thursday,Zacks.com reports.

A number of other analysts have also weighed in on the stock. UBS Group increased their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Citigroup boosted their price target on Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 20th. Bank of America reaffirmed an “underperform” rating and set a $77.00 price target (down from $87.00) on shares of Omnicom Group in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Finally, Barclays lifted their price objective on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.86.

Omnicom Group Stock Down 1.9%

Shares of NYSE OMC opened at $73.85 on Thursday. The firm’s fifty day moving average is $77.16 and its 200 day moving average is $76.96. Omnicom Group has a 52 week low of $66.33 and a 52 week high of $87.17. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.60. The company has a market cap of $22.92 billion, a price-to-earnings ratio of 150.70, a PEG ratio of 0.62 and a beta of 0.71.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share for the quarter, missing the consensus estimate of $2.94 by ($0.35). Omnicom Group had a negative net margin of 0.32% and a positive return on equity of 25.65%. The firm had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the previous year, the company earned $2.41 EPS. The company’s quarterly revenue was up 27.9% on a year-over-year basis. On average, equities research analysts expect that Omnicom Group will post 8.25 earnings per share for the current year.

Omnicom Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 38.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Omnicom Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. boosted its stake in Omnicom Group by 15.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 108,310 shares of the business services provider’s stock worth $8,831,000 after acquiring an additional 14,368 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Omnicom Group by 18.7% during the third quarter. Principal Financial Group Inc. now owns 1,877,462 shares of the business services provider’s stock valued at $153,068,000 after purchasing an additional 295,379 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in shares of Omnicom Group during the third quarter valued at approximately $870,000. National Pension Service lifted its holdings in shares of Omnicom Group by 35.3% during the third quarter. National Pension Service now owns 111,161 shares of the business services provider’s stock valued at $9,063,000 after purchasing an additional 29,014 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its position in shares of Omnicom Group by 24.2% in the 3rd quarter. AustralianSuper Pty Ltd now owns 129,755 shares of the business services provider’s stock worth $10,579,000 after purchasing an additional 25,317 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

About Omnicom Group

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.