Omnicom Group Inc. (OMC) Price Target Increased to $86.00 by Analysts at Pivotal Research
Omnicom Group Inc. (NYSE:OMC) had its price target hoisted by research analysts at Pivotal Research from $79.00 to $86.00 in a research note issued on Monday, StockTargetPrices.com reports. The brokerage currently has a “hold” rating on the stock. Pivotal Research’s price objective points to a potential upside of 3.78% from the company’s previous close.
Other equities analysts have also issued research reports about the company. BMO Capital Markets reissued a “hold” rating and issued a $80.00 price objective on shares of Omnicom Group in a research note on Sunday, July 17th. Zacks Investment Research lowered Omnicom Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. RBC Capital Markets assumed coverage on Omnicom Group in a research note on Thursday, October 6th. They issued a “sector perform” rating and a $87.00 price objective on the stock. Albert Fried & Company reissued a “hold” rating and issued a $85.00 price objective on shares of Omnicom Group in a research note on Thursday, July 14th. Finally, Royal Bank Of Canada assumed coverage on Omnicom Group in a research note on Friday, October 7th. They issued a “sector perform” rating and a $87.00 price objective on the stock. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $83.86.
Omnicom Group (NYSE:OMC) opened at 82.87 on Monday. Omnicom Group has a 52 week low of $66.48 and a 52 week high of $87.50. The stock has a market cap of $19.60 billion, a PE ratio of 18.13 and a beta of 1.35. The company has a 50-day moving average price of $84.41 and a 200-day moving average price of $83.41.
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In other Omnicom Group news, Director Linda Johnson Rice sold 824 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total value of $69,669.20. Following the completion of the sale, the director now directly owns 30,440 shares in the company, valued at $2,573,702. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the company. Thomaspartners Inc. increased its stake in shares of Omnicom Group by 1.8% in the first quarter. Thomaspartners Inc. now owns 1,672,711 shares of the company’s stock valued at $139,220,000 after buying an additional 30,109 shares during the period. Wellington Management Group LLP purchased a new position in Omnicom Group during the first quarter worth about $40,095,000. Geode Capital Management LLC increased its position in Omnicom Group by 5.4% in the first quarter. Geode Capital Management LLC now owns 2,029,274 shares of the company’s stock worth $168,569,000 after buying an additional 103,737 shares during the last quarter. Sentry Investments Corp. increased its position in Omnicom Group by 0.7% in the first quarter. Sentry Investments Corp. now owns 1,096,490 shares of the company’s stock worth $91,261,000 after buying an additional 7,600 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its position in Omnicom Group by 194.5% in the first quarter. Riverhead Capital Management LLC now owns 348,471 shares of the company’s stock worth $29,002,000 after buying an additional 230,146 shares during the last quarter. Institutional investors own 97.02% of the company’s stock.
About Omnicom Group
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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