Omnicom Group (NYSE:OMC) Upgraded at Argus

Omnicom Group (NYSE:OMC) was upgraded by analysts at Argus to a “hold” rating in a research note issued on Monday, Zacks reports.

OMC has been the topic of several other research reports. Wells Fargo & Company lifted their target price on shares of Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Rothschild & Co Redburn started coverage on shares of Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price target on the stock. Citigroup reduced their price target on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group initiated coverage on shares of Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Omnicom Group has a consensus rating of “Hold” and an average target price of $99.00.

Omnicom Group Trading Down 1.6%

NYSE OMC opened at $79.80 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The business has a fifty day simple moving average of $83.24 and a 200 day simple moving average of $78.86. Omnicom Group has a 12 month low of $66.33 and a 12 month high of $89.57. The firm has a market capitalization of $21.89 billion, a P/E ratio of 68.79, a PEG ratio of 0.69 and a beta of 0.65.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. Omnicom Group’s revenue was up 63.4% compared to the same quarter last year. On average, analysts predict that Omnicom Group will post 10.35 EPS for the current fiscal year.

Insider Activity at Omnicom Group

In other news, Director Linda Rice sold 1,385 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares in the company, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Omnicom Group

Several institutional investors have recently added to or reduced their stakes in OMC. Resona Asset Management Co. Ltd. raised its stake in shares of Omnicom Group by 55.4% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 98,842 shares of the business services provider’s stock valued at $7,976,000 after acquiring an additional 35,247 shares during the last quarter. Orca Investment Management LLC purchased a new stake in shares of Omnicom Group during the second quarter worth about $2,023,000. Polianta Ltd bought a new stake in shares of Omnicom Group in the second quarter worth about $1,762,000. Oppenheimer Asset Management Inc. purchased a new position in Omnicom Group during the 2nd quarter valued at about $9,146,000. Finally, Heritage Trust Co raised its position in Omnicom Group by 198.2% during the 4th quarter. Heritage Trust Co now owns 43,304 shares of the business services provider’s stock valued at $3,497,000 after purchasing an additional 28,782 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 communications holding company. Through a network of agencies and specialized businesses, it provides advertising, branding, media planning and buying, public relations, customer relationship management, digital marketing, experiential marketing and healthcare communications services.

Omnicom’s agency brands have included BBDO Worldwide, DDB Worldwide, TBWA\Worldwide, Omnicom Media Group, FleishmanHillard and Ketchum. These businesses serve clients across industries, including consumer products, healthcare, technology, financial services, automotive and telecommunications, helping organizations develop brand strategies, create campaigns and engage audiences through traditional and digital channels.

Omnicom was formed in 1986 through the merger of advertising companies BBDO, Doyle Dane Bernbach and Needham Harper Worldwide.