UBS Group Forecasts Strong Price Appreciation for Omnicom Group (NYSE:OMC) Stock

Omnicom Group (NYSE:OMC) had its price objective boosted by analysts at UBS Group from $99.00 to $108.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. UBS Group’s price objective would suggest a potential upside of 46.37% from the stock’s current price.

Several other research firms have also weighed in on OMC. Barclays raised their price objective on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $78.00 to $91.00 in a research report on Tuesday, September 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.14.

Omnicom Group Trading Up 5.2%

Shares of NYSE:OMC traded up $3.62 during midday trading on Friday, hitting $73.79. 2,956,169 shares of the stock were exchanged, compared to its average volume of 3,744,648. The business’s 50-day moving average price is $75.51 and its 200 day moving average price is $74.71. The stock has a market capitalization of $14.24 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 1.13 and a beta of 0.75. Omnicom Group has a 12 month low of $68.37 and a 12 month high of $104.03. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92.

Omnicom Group (NYSE:OMC) last announced its quarterly 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 firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.03 EPS. Analysts predict that Omnicom Group will post 8.25 earnings per share for the current year.

Hedge Funds Weigh In On Omnicom Group

Several hedge funds have recently made changes to their positions in the business. Cornerstone Planning Group LLC boosted its stake in Omnicom Group by 2,126.7% in the 3rd 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 during the period. Meeder Asset Management Inc. grew its stake in Omnicom Group by 289.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock worth $30,000 after buying an additional 272 shares in the last quarter. Capital A Wealth Management LLC grew its position in 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 worth $27,000 after acquiring an additional 318 shares in the last quarter. Harbor Asset Planning Inc. purchased a new position in shares of Omnicom Group in the 2nd quarter worth about $29,000. Finally, Westside Investment Management Inc. boosted its stake in 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 buying an additional 202 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other 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.