Pivotal Research Increases Omnicom Group Inc. (OMC) Price Target to $86.00
Omnicom Group Inc. (NYSE:OMC) had its price objective boosted by stock analysts at Pivotal Research from $79.00 to $86.00 in a note issued to investors on Monday. The firm presently has a “hold” rating on the stock. Pivotal Research’s price objective points to a potential upside of 6.34% from the company’s current price.
A number of other analysts also recently issued reports on the company. RBC Capital Markets reaffirmed a “hold” rating and issued a $87.00 target price on shares of Omnicom Group in a research report on Sunday, October 9th. Royal Bank Of Canada began coverage on Omnicom Group in a research report on Friday, October 7th. They issued a “sector perform” rating and a $87.00 target price on the stock. Zacks Investment Research raised Omnicom Group from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research report on Thursday, October 6th. Credit Suisse Group AG began coverage on Omnicom Group in a research report on Thursday, September 15th. They set a “neutral” rating and a $83.00 price target on the stock. Finally, Telsey Advisory Group boosted their price target on Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 20th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $83.86.
Omnicom Group (NYSE:OMC) opened at 80.87 on Monday. The firm has a market capitalization of $19.13 billion, a PE ratio of 17.69 and a beta of 1.35. The stock has a 50 day moving average price of $84.22 and a 200-day moving average price of $83.39. Omnicom Group has a one year low of $66.48 and a one year high of $87.50.
Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 18th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.80 billion. Omnicom Group had a return on equity of 38.56% and a net margin of 7.26%. Omnicom Group’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 earnings per share. On average, equities analysts forecast that Omnicom Group will post $4.75 earnings per share for the current year.
In other news, Director Linda Johnson Rice sold 824 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $84.55, for a total transaction of $69,669.20. Following the completion of the sale, the director now owns 30,440 shares in the company, valued at approximately $2,573,702. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.
Large investors have recently modified their holdings of the company. Independent Portfolio Consultants Inc. raised its stake in shares of Omnicom Group by 27.0% in the third quarter. Independent Portfolio Consultants Inc. now owns 1,200 shares of the company’s stock valued at $102,000 after buying an additional 255 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Omnicom Group during the first quarter worth $110,000. Trust Department MB Financial Bank N A raised its position in Omnicom Group by 6.0% in the second quarter. Trust Department MB Financial Bank N A now owns 1,768 shares of the company’s stock worth $123,000 after buying an additional 100 shares in the last quarter. City Holding Co. raised its position in Omnicom Group by 90.4% in the second quarter. City Holding Co. now owns 1,942 shares of the company’s stock worth $158,000 after buying an additional 922 shares in the last quarter. Finally, PineBridge Investments L.P. raised its position in Omnicom Group by 11.0% in the second quarter. PineBridge Investments L.P. now owns 2,000 shares of the company’s stock worth $163,000 after buying an additional 198 shares in the last quarter. Institutional investors own 97.02% of the company’s stock.
About Omnicom Group
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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