Omnicom Group (NYSE:OMC) Stock Price Target Cut by Barclays

Omnicom Group (NYSE:OMC) had its price objective reduced by stock analysts at Barclays from $90.00 to $88.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the business services provider’s stock. Barclays‘s price objective indicates a potential upside of 15.56% from the company’s current price.

OMC has been the subject of a number of other reports. Zacks Research upgraded shares of Omnicom Group from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Wells Fargo & Company lifted their price target on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Argus upgraded shares of Omnicom Group to a “hold” rating in a research note on Monday, September 14th. Citigroup cut their target price on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Omnicom Group presently has a consensus rating of “Hold” and an average price target of $98.75.

Omnicom Group Price Performance

OMC stock traded down $0.30 during mid-day trading on Friday, hitting $76.15. The stock had a trading volume of 265,456 shares, compared to its average volume of 4,093,314. Omnicom Group has a 52 week low of $66.33 and a 52 week high of $89.57. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The firm has a fifty day simple moving average of $81.31 and a 200 day simple moving average of $78.19. The firm has a market capitalization of $20.89 billion, a P/E ratio of 66.12, a P/E/G ratio of 0.63 and a beta of 0.68.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The company’s revenue for the quarter was up 63.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 EPS. As a group, research analysts forecast that Omnicom Group will post 10.5 EPS for the current year.

Insider Activity

In other news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the sale, the director owned 11,719 shares of the company’s stock, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Omnicom Group in the 2nd quarter worth about $2,082,476,000. Bank of New York Mellon Corp purchased a new position in Omnicom Group during the second quarter worth approximately $914,156,000. First Eagle Investment Management LLC grew its position in shares of Omnicom Group by 0.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 7,343,209 shares of the business services provider’s stock worth $534,806,000 after acquiring an additional 40,096 shares in the last quarter. Baird Financial Group Inc. grew its position in Omnicom Group by 3.0% in the second quarter. Baird Financial Group Inc. now owns 4,852,121 shares of the business services provider’s stock worth $353,380,000 after buying an additional 142,082 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in Omnicom Group by 116.2% during the first quarter. Pacer Advisors Inc. now owns 2,847,575 shares of the business services provider’s stock worth $214,451,000 after buying an additional 1,530,743 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

About Omnicom Group

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management and specialty marketing services. Through its network of agencies and specialized businesses, the company helps clients develop brands, engage customers and execute integrated marketing campaigns across traditional and digital channels.

Omnicom’s services include creative advertising, strategic media planning and buying, digital marketing, data and precision marketing, public relations, healthcare communications, experiential marketing, commerce and consulting.