Barclays Downgrades Omnicom Group (NYSE:OMC) to Equal Weight

Omnicom Group (NYSE:OMC) was downgraded by research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, MarketBeat reports. They presently have a $80.00 target price on the business services provider’s stock, down from their prior target price of $105.00. Barclays‘s price target would indicate a potential upside of 12.29% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Bank of America raised Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a report on Monday. Wells Fargo & Company lowered their price target on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. UBS Group lowered their price target on Omnicom Group from $117.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Citigroup reissued a “buy” rating and set a $103.00 price target on shares of Omnicom Group in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased their target price on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.43.

Omnicom Group Stock Performance

OMC stock opened at $71.24 on Wednesday. The stock’s 50 day simple moving average is $73.58 and its 200 day simple moving average is $79.73. The stock has a market capitalization of $13.90 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 1.56 and a beta of 0.93. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24. Omnicom Group has a 12-month low of $68.37 and a 12-month high of $107.00.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.07. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Omnicom Group had a return on equity of 34.85% and a net margin of 9.20%. As a group, research analysts forecast that Omnicom Group will post 8.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Omnicom Group

A number of institutional investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC increased its stake in Omnicom Group by 146.6% in the 4th quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock worth $28,000 after buying an additional 195 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in Omnicom Group by 34.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 6,465 shares of the business services provider’s stock worth $558,000 after buying an additional 1,661 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Omnicom Group in the 4th quarter worth $898,000. Bank of New York Mellon Corp increased its stake in Omnicom Group by 2.4% in the 4th 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 buying an additional 156,438 shares in the last quarter. Finally, Denali Advisors LLC increased its stake in Omnicom Group by 158.1% in the 4th quarter. Denali Advisors LLC now owns 5,714 shares of the business services provider’s stock worth $492,000 after buying an additional 3,500 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

Omnicom Group Company Profile

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.