Zacks Research Upgrades Omnicom Group (NYSE:OMC) to Hold

Omnicom Group (NYSE:OMC) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

OMC has been the subject of a number of other research reports. Wells Fargo & Company lifted their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Argus upgraded Omnicom Group to a “hold” rating in a research note on Monday, September 14th. Citigroup cut their price objective on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. The Goldman Sachs Group assumed coverage on Omnicom Group in a research note on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price for the company. Finally, Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Omnicom Group currently has a consensus rating of “Hold” and an average price target of $99.00.

Omnicom Group Stock Performance

Shares of OMC stock opened at $74.05 on Monday. The stock has a market cap of $20.32 billion, a P/E ratio of 63.84, a P/E/G ratio of 0.63 and a beta of 0.65. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78. The company has a fifty day moving average price of $82.19 and a two-hundred day moving average price of $78.30. Omnicom Group has a one year low of $66.33 and a one year high of $89.57.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The firm had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The business’s revenue was up 63.4% on a year-over-year basis. During the same period last year, the business earned $2.05 EPS. As a group, equities analysts predict that Omnicom Group will post 10.5 EPS for the current year.

Insiders Place Their Bets

In other Omnicom Group 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 transaction, the director owned 11,719 shares in the company, valued at $1,039,826.87. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Omnicom Group

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Omnicom Group during the 2nd quarter worth approximately $2,082,476,000. Bank of New York Mellon Corp acquired a new stake in shares of Omnicom Group in the second quarter valued at approximately $914,156,000. First Eagle Investment Management LLC raised its position in shares of Omnicom Group by 0.5% in the second quarter. First Eagle Investment Management LLC now owns 7,343,209 shares of the business services provider’s stock valued at $534,806,000 after buying an additional 40,096 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Omnicom Group by 89.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,106,022 shares of the business services provider’s stock valued at $493,061,000 after buying an additional 2,883,520 shares during the period. Finally, Baird Financial Group Inc. grew its position in Omnicom Group by 3.0% during the second quarter. Baird Financial Group Inc. now owns 4,852,121 shares of the business services provider’s stock worth $353,380,000 after buying an additional 142,082 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

About Omnicom Group

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management and specialty marketing services. Through its network of agencies and specialized businesses, the company helps clients develop brands, engage customers and execute integrated marketing campaigns across traditional and digital channels.

Omnicom’s services include creative advertising, strategic media planning and buying, digital marketing, data and precision marketing, public relations, healthcare communications, experiential marketing, commerce and consulting.