Omnicom Group (NYSE:OMC) Raised to “Strong-Buy” at The Goldman Sachs Group

Omnicom Group (NYSE:OMC) was upgraded by The Goldman Sachs Group to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

OMC has been the topic of several other reports. Citigroup decreased their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. UBS Group increased their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Morgan Stanley increased their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Barclays increased their target price on shares of Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Finally, Rothschild & Co Redburn started coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Stock Performance

Shares of NYSE OMC opened at $75.62 on Wednesday. The company’s fifty day moving average price is $75.46 and its 200 day moving average price is $76.57. Omnicom Group has a 1 year low of $66.33 and a 1 year high of $87.17. The company has a market capitalization of $21.55 billion, a PE ratio of 193.90, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The firm had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the prior year, the firm posted $1.70 earnings per share. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. On average, research analysts predict that Omnicom Group will post 10.97 earnings per share for the current year.

Omnicom Group announced that its Board of Directors has authorized a share 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 an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Omnicom Group

A number of institutional investors have recently made changes to their positions in OMC. Activest Wealth Management increased its position in shares of Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 296 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Omnicom Group during the fourth quarter valued at about $26,000. Elyxium Wealth LLC acquired a new stake in shares of Omnicom Group during the fourth quarter valued at about $26,000. Cornerstone Planning Group LLC boosted its stake in shares of Omnicom Group by 2,126.7% in the third 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 period. Finally, Legacy Wealth Managment LLC ID boosted its stake in shares of Omnicom Group by 111.4% in the fourth 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 period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

About Omnicom Group

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.