Omnicom Group (NYSE:OMC) had its price target boosted by Morgan Stanley from $72.00 to $76.00 in a report issued on Wednesday. The brokerage currently has an “underweight” rating on the business services provider’s stock. Morgan Stanley’s price objective suggests a potential downside of 1.29% from the company’s previous close.
Several other equities analysts also recently issued reports on OMC. BMO Capital Markets reissued a “hold” rating and issued a $85.00 target price on shares of Omnicom Group in a research report on Wednesday, October 18th. Barclays reissued a “hold” rating and issued a $81.00 target price on shares of Omnicom Group in a research report on Thursday, January 25th. Royal Bank of Canada cut their target price on Omnicom Group from $96.00 to $87.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 18th. Zacks Investment Research downgraded Omnicom Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Finally, Bank of America downgraded Omnicom Group from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 25th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $83.64.
Shares of Omnicom Group (NYSE OMC) traded up $0.19 during mid-day trading on Wednesday, hitting $76.99. The stock had a trading volume of 408,115 shares, compared to its average volume of 2,184,737. The firm has a market capitalization of $17,843.23, a P/E ratio of 15.34, a PEG ratio of 2.55 and a beta of 1.23. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.79 and a current ratio of 0.90. Omnicom Group has a 1-year low of $65.32 and a 1-year high of $87.43.
A number of institutional investors and hedge funds have recently made changes to their positions in OMC. Thrivent Financial For Lutherans grew its position in Omnicom Group by 2.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 8,820 shares of the business services provider’s stock worth $731,000 after purchasing an additional 180 shares during the period. MML Investors Services LLC grew its position in Omnicom Group by 16.2% during the 2nd 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. Dimensional Fund Advisors LP grew its position in Omnicom Group by 16.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 897,152 shares of the business services provider’s stock worth $74,377,000 after purchasing an additional 128,667 shares during the period. Zacks Investment Management grew its position in Omnicom Group by 1.4% during the 2nd quarter. Zacks Investment Management now owns 8,444 shares of the business services provider’s stock worth $700,000 after purchasing an additional 114 shares during the period. Finally, Stifel Financial Corp grew its position in Omnicom Group by 19.6% during the 2nd quarter. Stifel Financial Corp now owns 50,179 shares of the business services provider’s stock worth $4,148,000 after purchasing an additional 8,223 shares during the period. 98.62% of the stock is currently owned by institutional investors.
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.
