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

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

OMC has been the topic of a number of other reports. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. Morgan Stanley initiated coverage on Omnicom Group in a research report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 target price on the stock. Bank of America restated an “underperform” rating and set a $77.00 price target (down from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. UBS Group upped their price target 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. Finally, Citigroup raised their price objective on shares of Omnicom Group from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Friday. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $95.00.

Omnicom Group Stock Performance

Shares of OMC stock traded down $2.32 during trading hours on Monday, reaching $80.95. The company had a trading volume of 2,446,408 shares, compared to its average volume of 4,926,081. The business has a fifty day moving average price of $77.10 and a 200-day moving average price of $76.42. Omnicom Group has a one year low of $66.33 and a one year high of $89.27. The firm has a market cap 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 company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Wednesday, February 18th. The business services provider reported $2.59 earnings per share for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.35). Omnicom Group had a negative net margin of 0.32% and a positive return on equity of 35.41%. The company had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter last year, the company earned $2.41 EPS. The firm’s revenue for the quarter was up 27.9% on a year-over-year basis. Sell-side analysts predict that Omnicom Group will post 8.25 earnings per share for the current fiscal year.

Omnicom Group declared that its Board of Directors has initiated a share buyback 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 purchase up to 38.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Omnicom Group

Several large investors have recently added to or reduced their stakes in the company. Brookstone Capital Management raised its position in shares of Omnicom Group by 23.7% during the 2nd quarter. Brookstone Capital Management now owns 3,623 shares of the business services provider’s stock valued at $261,000 after purchasing an additional 694 shares during the period. Asset Management One Co. Ltd. increased its stake in Omnicom Group by 3.5% in the 2nd quarter. Asset Management One Co. Ltd. now owns 84,329 shares of the business services provider’s stock worth $6,067,000 after buying an additional 2,855 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Omnicom Group by 4.2% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 538,442 shares of the business services provider’s stock valued at $38,736,000 after acquiring an additional 21,726 shares during the period. State of New Jersey Common Pension Fund D lifted its position in shares of Omnicom Group by 0.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 60,681 shares of the business services provider’s stock valued at $4,365,000 after acquiring an additional 386 shares in the last quarter. Finally, MQS Management LLC lifted its position in shares of Omnicom Group by 60.4% in the second quarter. MQS Management LLC now owns 5,001 shares of the business services provider’s stock valued at $360,000 after acquiring an additional 1,884 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

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.