Omnicom Group (NYSE:OMC) was downgraded by research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued on Thursday, The Fly reports.
OMC has been the topic of several other research reports. Credit Suisse Group decreased their price target on Omnicom Group from $79.00 to $78.00 and set a “neutral” rating on the stock in a report on Wednesday, October 11th. Zacks Investment Research cut Omnicom Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Argus upgraded Omnicom Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Macquarie cut Omnicom Group from a “neutral” rating to an “underperform” rating and set a $83.00 price target on the stock. in a report on Tuesday, January 2nd. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $75.00 price target (down previously from $81.00) on shares of Omnicom Group in a report on Thursday, January 18th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. Omnicom Group currently has an average rating of “Hold” and an average target price of $83.71.
Shares of Omnicom Group (OMC) traded up $0.09 during mid-day trading on Thursday, hitting $76.67. The stock had a trading volume of 1,670,000 shares, compared to its average volume of 2,120,000. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $17,670.00, a PE ratio of 15.27, a PEG ratio of 2.00 and a beta of 1.23. Omnicom Group has a 12 month low of $65.32 and a 12 month high of $87.43.
Institutional investors and hedge funds have recently modified their holdings of the business. Eagle Ridge Investment Management bought a new position in Omnicom Group during the third quarter worth about $201,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Omnicom Group during the third quarter worth about $205,000. Cable Hill Partners LLC raised its position in shares of Omnicom Group by 3,527.5% during the third quarter. Cable Hill Partners LLC now owns 2,902 shares of the business services provider’s stock worth $215,000 after purchasing an additional 2,822 shares during the period. Oak Point Wealth Management acquired a new stake in shares of Omnicom Group during the fourth quarter worth about $219,000. Finally, MML Investors Services LLC raised its position in shares of Omnicom Group by 16.2% during the second quarter. MML Investors Services LLC now owns 3,013 shares of the business services provider’s stock worth $250,000 after purchasing an additional 421 shares during the period. Hedge funds and other institutional investors own 98.60% 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.
