Omnicom Group (NYSE:OMC) Given New $119.00 Price Target at JPMorgan Chase & Co.

Omnicom Group (NYSE:OMC) had its price objective hoisted by JPMorgan Chase & Co. from $118.00 to $119.00 in a research report released on Wednesday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has an overweight rating on the business services provider’s stock.

A number of other brokerages also recently commented on OMC. Macquarie reissued an “outperform” rating and issued a $110.00 price objective on shares of Omnicom Group in a research report on Wednesday, July 17th. UBS Group boosted their price target on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Wells Fargo & Company cut Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $106.00 to $110.00 in a research report on Wednesday. Finally, Bank of America boosted their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $110.11.

Omnicom Group Stock Down 0.7 %

Omnicom Group stock opened at $104.48 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. Omnicom Group has a 1-year low of $73.28 and a 1-year high of $106.51. The company has a fifty day simple moving average of $100.30 and a 200 day simple moving average of $95.27. The company has a market cap of $20.46 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the prior year, the business posted $1.86 EPS. Research analysts anticipate that Omnicom Group will post 7.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the transaction, the vice president now directly owns 15,375 shares in the company, valued at approximately $1,524,738.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OMC. Davis Capital Management bought a new stake in Omnicom Group during the 3rd quarter worth approximately $36,000. Innealta Capital LLC bought a new stake in shares of Omnicom Group in the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Omnicom Group in the second quarter valued at approximately $33,000. Northwest Investment Counselors LLC acquired a new position in shares of Omnicom Group in the 1st quarter worth approximately $50,000. Finally, Richardson Financial Services Inc. increased its position in shares of Omnicom Group by 66.3% during the second quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock worth $50,000 after buying an additional 224 shares during the period. Institutional investors and hedge funds 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.