Omnicom Group Inc. (OMC) Price Target Raised to $86.00
Omnicom Group Inc. (NYSE:OMC) had its price target hoisted by stock analysts at Pivotal Research from $79.00 to $86.00 in a research note issued on Monday, StockTargetPrices.com reports. The firm presently has a “hold” rating on the stock. Pivotal Research’s target price indicates a potential upside of 3.78% from the company’s current price.
OMC has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 24th. Telsey Advisory Group upped their price target on Omnicom Group from $79.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, July 20th. Credit Suisse Group AG started coverage on Omnicom Group in a report on Thursday, September 15th. They issued a “neutral” rating and a $83.00 price target for the company. BMO Capital Markets reaffirmed a “hold” rating and issued a $80.00 price target on shares of Omnicom Group in a report on Sunday, July 17th. Finally, RBC Capital Markets reaffirmed a “hold” rating and issued a $87.00 price target on shares of Omnicom Group in a report on Sunday, October 9th. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Omnicom Group has an average rating of “Hold” and an average price target of $83.86.
Shares of Omnicom Group (NYSE:OMC) opened at 82.87 on Monday. The company has a 50-day moving average of $84.41 and a 200-day moving average of $83.41. The firm has a market capitalization of $19.60 billion, a PE ratio of 18.13 and a beta of 1.35. Omnicom Group has a 1-year low of $66.48 and a 1-year high of $87.50.
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In related news, Director Linda Johnson Rice sold 824 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total transaction of $69,669.20. Following the completion of the sale, the director now directly owns 30,440 shares of the company’s stock, valued at $2,573,702. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.
Several large investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in Omnicom Group by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 19,329,016 shares of the company’s stock valued at $1,575,121,000 after buying an additional 71,883 shares during the last quarter. Vanguard Group Inc. boosted its position in Omnicom Group by 1.5% in the second quarter. Vanguard Group Inc. now owns 15,401,243 shares of the company’s stock valued at $1,255,047,000 after buying an additional 230,642 shares during the last quarter. First Eagle Investment Management LLC boosted its position in Omnicom Group by 0.9% in the second quarter. First Eagle Investment Management LLC now owns 12,838,283 shares of the company’s stock valued at $1,046,192,000 after buying an additional 113,555 shares during the last quarter. American International Group Inc. boosted its position in Omnicom Group by 4.9% in the second quarter. American International Group Inc. now owns 5,373,920 shares of the company’s stock valued at $437,921,000 after buying an additional 253,058 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in Omnicom Group by 11.6% in the second quarter. Mackenzie Financial Corp now owns 4,021,970 shares of the company’s stock valued at $327,750,000 after buying an additional 417,049 shares during the last quarter. 97.02% of the stock is owned by hedge funds and other institutional investors.
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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