Omnicom Group (NYSE:OMC) Stock Rating Upgraded by Bank of America

Omnicom Group (NYSE:OMC) was upgraded by analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued on Monday, MarketBeat.com reports. The brokerage currently has a $80.00 price target on the business services provider’s stock. Bank of America‘s price target indicates a potential upside of 10.39% from the stock’s previous close.

Several other research firms also recently issued reports on OMC. Wells Fargo & Company decreased their price objective on shares of Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price objective on shares of Omnicom Group from $116.00 to $104.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Barclays cut their price objective on shares of Omnicom Group from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Citigroup reiterated a “buy” rating and issued a $103.00 target price on shares of Omnicom Group in a research note on Tuesday, April 15th. Finally, UBS Group reduced their target price on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Omnicom Group Price Performance

NYSE OMC opened at $72.47 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24. The company has a fifty day simple moving average of $73.63 and a 200 day simple moving average of $79.94. The company has a market cap of $14.14 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.72 and a beta of 0.93. Omnicom Group has a 1 year low of $68.37 and a 1 year high of $107.00.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, April 15th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.07. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.73 billion. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. On average, sell-side analysts predict that Omnicom Group will post 8.25 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Omnicom Group by 1.8% during the first quarter. Vanguard Group Inc. now owns 23,466,754 shares of the business services provider’s stock worth $1,945,629,000 after purchasing an additional 424,936 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Omnicom Group by 20.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,178,226 shares of the business services provider’s stock worth $595,147,000 after purchasing an additional 1,205,165 shares during the period. Bank of New York Mellon Corp lifted its stake in Omnicom Group by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 6,714,693 shares of the business services provider’s stock worth $577,732,000 after purchasing an additional 156,438 shares during the period. Geode Capital Management LLC lifted its stake in Omnicom Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,151,708 shares of the business services provider’s stock worth $442,453,000 after purchasing an additional 51,148 shares during the period. Finally, Boston Partners lifted its stake in Omnicom Group by 18.5% during the first quarter. Boston Partners now owns 4,882,041 shares of the business services provider’s stock worth $402,598,000 after purchasing an additional 762,871 shares during the period. Institutional investors own 91.97% of the company’s stock.

About Omnicom Group

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.