Analysts Set Omnicom Group Inc. (NYSE:OMC) Price Target at $96.57

Shares of Omnicom Group Inc. (NYSE:OMC) have received an average recommendation of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $96.5714.

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Thursday, July 10th. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Barclays increased their price objective on Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th.

Hedge Funds Weigh In On Omnicom Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital A Wealth Management LLC grew its position in shares of Omnicom Group by 548.3% in the second quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 318 shares during the period. Cornerstone Planning Group LLC lifted its stake in shares of Omnicom Group by 2,126.7% during the third quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 319 shares in the last quarter. Harbor Asset Planning Inc. acquired a new position in shares of Omnicom Group in the second quarter worth about $29,000. Meeder Asset Management Inc. lifted its stake in shares of Omnicom Group by 289.4% in the third quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock worth $30,000 after acquiring an additional 272 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its stake in shares of Omnicom Group by 100.0% in the third quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock worth $31,000 after acquiring an additional 202 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Trading Down 0.2%

OMC opened at $73.39 on Monday. The stock has a fifty day moving average price of $77.39 and a 200-day moving average price of $75.16. Omnicom Group has a 12 month low of $68.37 and a 12 month high of $107.00. The firm has a market cap of $14.16 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 1.43 and a beta of 0.96. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.07. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.02 billion. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.03 EPS. As a group, equities research analysts anticipate that Omnicom Group will post 8.25 earnings per share for the current fiscal year.

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.