JPMorgan Chase & Co. Issues Pessimistic Forecast for Omnicom Group (NYSE:OMC) Stock Price

Omnicom Group (NYSE:OMC) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $119.00 to $116.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 33.95% from the stock’s current price.

A number of other brokerages have also recently issued reports on OMC. Wells Fargo & Company dropped their price objective on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 10th. Macquarie restated an “outperform” rating and set a $120.00 price target on shares of Omnicom Group in a research note on Wednesday, December 11th. Barclays decreased their price objective on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday. Finally, UBS Group increased their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Omnicom Group currently has an average rating of “Moderate Buy” and an average target price of $108.25.

Omnicom Group Stock Up 0.5 %

OMC stock opened at $86.60 on Monday. Omnicom Group has a twelve month low of $81.42 and a twelve month high of $107.00. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The company has a market cap of $16.90 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.88 and a beta of 0.98. The business’s 50-day simple moving average is $91.65 and its 200 day simple moving average is $96.41.

Institutional Trading of Omnicom Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. ST Germain D J Co. Inc. acquired a new stake in Omnicom Group in the 4th quarter valued at about $25,000. Versant Capital Management Inc raised its position in Omnicom Group by 645.2% in the 4th quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock worth $27,000 after purchasing an additional 271 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Omnicom Group in the 3rd quarter worth approximately $33,000. Davis Capital Management bought a new position in Omnicom Group in the 3rd quarter valued at $36,000. Finally, HM Payson & Co. increased its stake in shares of Omnicom Group by 84.5% in the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after buying an additional 169 shares during the period. 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.