Omnicom Group (NYSE:OMC) Upgraded by Wells Fargo & Company to “Overweight”

Omnicom Group (NYSE:OMC) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report issued on Wednesday, MarketBeat.com reports. The firm currently has a $106.00 target price on the business services provider’s stock, up from their prior target price of $91.00. Wells Fargo & Company‘s target price indicates a potential upside of 15.88% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. UBS Group began coverage on Omnicom Group in a research report on Thursday, January 11th. They set a “buy” rating and a $117.00 price objective on the stock. Macquarie raised their target price on Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. BNP Paribas raised Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 target price on the stock in a research report on Thursday, March 28th. StockNews.com raised Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. dropped their target price on Omnicom Group from $106.00 to $104.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.40.

Omnicom Group Trading Down 1.1 %

NYSE OMC opened at $91.48 on Wednesday. Omnicom Group has a 12 month low of $72.20 and a 12 month high of $99.23. The stock has a market cap of $18.04 billion, a P/E ratio of 12.36, a P/E/G ratio of 2.18 and a beta of 0.97. The stock’s fifty day moving average price is $91.35 and its 200-day moving average price is $85.18. The company has a current ratio of 0.95, a quick ratio of 0.86 and a debt-to-equity ratio of 1.16.

Omnicom Group (NYSE:OMC) last released its earnings results on Monday, February 5th. The business services provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. Omnicom Group had a return on equity of 38.83% and a net margin of 9.96%. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same period in the prior year, the firm posted $2.09 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities analysts forecast that Omnicom Group will post 7.73 EPS for the current fiscal year.

Insider Transactions at Omnicom Group

In related news, Director Linda Johnson Rice sold 507 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $86.66, for a total transaction of $43,936.62. Following the completion of the transaction, the director now owns 9,753 shares in the company, valued at approximately $845,194.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Omnicom Group

Hedge funds have recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in shares of Omnicom Group in the 3rd quarter worth $25,000. HHM Wealth Advisors LLC purchased a new stake in shares of Omnicom Group in the 4th quarter worth $26,000. Frazier Financial Advisors LLC purchased a new stake in shares of Omnicom Group in the 4th quarter worth $26,000. Pinnacle Bancorp Inc. lifted its holdings in shares of Omnicom Group by 61.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock worth $28,000 after buying an additional 125 shares during the period. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Omnicom Group in the 4th quarter worth $29,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

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.