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

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

Several other research firms also recently commented on OMC. Bank of America upped their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. UBS Group increased their target price on shares of Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $106.00 to $110.00 in a report on Wednesday. Finally, Macquarie reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Omnicom Group in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.20.

Omnicom Group Stock Performance

NYSE:OMC opened at $105.49 on Wednesday. Omnicom Group has a 12 month low of $73.28 and a 12 month high of $105.93. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81. The firm has a market capitalization of $20.66 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. The business’s fifty day moving average price is $99.85 and its 200 day moving average price is $95.15.

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

Insider Transactions at Omnicom Group

In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $90.88, for a total transaction of $44,349.44. Following the sale, the director now directly owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the sale, the vice president now directly owns 15,375 shares in the company, valued at $1,524,738.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the sale, the director now directly owns 10,356 shares in the company, valued at approximately $941,153.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Trading of Omnicom Group

A number of institutional investors have recently made changes to their positions in OMC. Bleakley Financial Group LLC raised its holdings in shares of Omnicom Group by 5.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 19,804 shares of the business services provider’s stock worth $2,048,000 after purchasing an additional 963 shares in the last quarter. Global Retirement Partners LLC grew its position in Omnicom Group by 4.3% in the third quarter. Global Retirement Partners LLC now owns 16,759 shares of the business services provider’s stock worth $1,733,000 after buying an additional 684 shares during the last quarter. One Wealth Advisors LLC bought a new position in shares of Omnicom Group in the third quarter valued at $208,000. Mezzasalma Advisors LLC lifted its position in shares of Omnicom Group by 6.4% during the 3rd quarter. Mezzasalma Advisors LLC now owns 3,787 shares of the business services provider’s stock valued at $392,000 after acquiring an additional 229 shares during the last quarter. Finally, B.O.S.S. Retirement Advisors LLC boosted its stake in shares of Omnicom Group by 5.4% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 17,121 shares of the business services provider’s stock worth $1,770,000 after acquiring an additional 880 shares in the last quarter. 91.97% of the stock is 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.