Omnicom Group (NYSE:OMC) Price Target Raised to $90.00 at Barclays

Omnicom Group (NYSE:OMC) had its price objective hoisted by analysts at Barclays from $82.00 to $90.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Barclays‘s target price would suggest a potential upside of 11.19% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. UBS Group boosted their price objective on shares of Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Morgan Stanley initiated coverage on shares of Omnicom Group in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price objective for the company. Citigroup lifted their target price on shares of Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Friday. Finally, Bank of America reiterated an “underperform” rating and set a $77.00 price target (down previously from $87.00) on shares of Omnicom Group in a research report on Monday, January 5th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.00.

Omnicom Group Trading Down 2.8%

Shares of OMC stock traded down $2.32 during mid-day trading on Monday, reaching $80.95. The stock had a trading volume of 2,446,408 shares, compared to its average volume of 4,926,081. The firm has a market capitalization of $15.62 billion, a PE ratio of 165.19, a price-to-earnings-growth ratio of 1.20 and a beta of 0.74. The stock’s 50-day moving average price is $77.10 and its two-hundred day moving average price is $76.42. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. Omnicom Group has a 52-week low of $66.33 and a 52-week high of $89.27.

Omnicom Group (NYSE:OMC) last posted its earnings results on Wednesday, February 18th. The business services provider reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.94 by ($0.35). The business had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $7.58 billion. Omnicom Group had a positive return on equity of 35.41% and a negative net margin of 0.32%.The firm’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.41 earnings per share. Equities analysts expect that Omnicom Group will post 8.25 earnings per share for the current fiscal year.

Omnicom Group declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 38.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Omnicom Group

Several institutional investors have recently bought and sold shares of the company. Activest Wealth Management lifted its stake in shares of Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after buying an additional 296 shares in the last quarter. Bayforest Capital Ltd purchased a new position in Omnicom Group in the 4th quarter worth approximately $26,000. Elyxium Wealth LLC bought a new position in Omnicom Group in the 4th quarter valued at approximately $26,000. Cornerstone Planning Group LLC boosted its stake in Omnicom Group by 2,126.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 319 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID boosted its stake in Omnicom Group by 111.4% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.