Barclays Upgrades Omnicom Group (NYSE:OMC) to “Overweight”

Omnicom Group (NYSE:OMC) was upgraded by equities researchers at Barclays from an “equal weight” rating to an “overweight” rating in a report issued on Tuesday, Marketbeat Ratings reports. The firm presently has a $110.00 price target on the business services provider’s stock, up from their previous price target of $100.00. Barclays‘s price target suggests a potential upside of 15.69% from the stock’s previous close.

Several other research analysts have also recently weighed in on OMC. BNP Paribas raised Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price objective for the company in a research report on Thursday, March 28th. Macquarie lifted their price objective on shares of Omnicom Group from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $91.00 to $106.00 in a report on Wednesday, April 17th. StockNews.com raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Moffett Nathanson raised their price objective on Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average target price of $104.40.

Omnicom Group Stock Performance

OMC stock opened at $95.08 on Tuesday. Omnicom Group has a 1-year low of $72.20 and a 1-year high of $99.23. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33. The firm has a market cap of $18.62 billion, a PE ratio of 12.85, a P/E/G ratio of 2.18 and a beta of 0.96. The business’s 50-day moving average price is $93.12 and its two-hundred day moving average price is $87.14.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Monday, February 5th. The business services provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.04. The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4 billion. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. Omnicom Group’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.09 EPS. As a group, research analysts forecast that Omnicom Group will post 7.81 earnings per share for the current year.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Johnson Rice sold 453 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $92.68, for a total transaction of $41,984.04. Following the completion of the sale, the director now owns 9,830 shares of the company’s stock, valued at approximately $911,044.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Omnicom Group

Several hedge funds have recently bought and sold shares of OMC. Commonwealth Equity Services LLC boosted its stake in Omnicom Group by 1.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 87,056 shares of the business services provider’s stock valued at $6,484,000 after purchasing an additional 1,258 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Omnicom Group by 176.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,409 shares of the business services provider’s stock valued at $6,883,000 after acquiring an additional 58,958 shares during the period. IFM Investors Pty Ltd grew its stake in shares of Omnicom Group by 3.8% in the third quarter. IFM Investors Pty Ltd now owns 38,862 shares of the business services provider’s stock valued at $2,894,000 after acquiring an additional 1,423 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in Omnicom Group in the 3rd quarter worth about $452,000. Finally, TIAA Trust National Association bought a new stake in Omnicom Group in the 3rd quarter valued at about $260,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

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.