Bank of America Reiterates Underperform Rating for Omnicom Group (NYSE:OMC)

Omnicom Group (NYSE:OMC)‘s stock had its “underperform” rating reissued by equities research analysts at Bank of America in a research note issued to investors on Monday,Benzinga reports. They currently have a $77.00 price objective on the business services provider’s stock, down from their prior price objective of $87.00. Bank of America‘s target price suggests a potential downside of 5.20% from the stock’s current price.

OMC has been the subject of several other reports. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $78.00 to $91.00 in a research report on Tuesday, September 23rd. UBS Group raised their target price on shares of Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Barclays lifted their price target on shares of Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. Finally, Morgan Stanley started coverage on shares of Omnicom Group in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price target for the company. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $92.14.

Omnicom Group Price Performance

Omnicom Group stock opened at $81.23 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $15.67 billion, a P/E ratio of 12.00, a PEG ratio of 1.19 and a beta of 0.74. The business has a 50-day moving average of $75.85 and a 200-day moving average of $75.77. Omnicom Group has a 1 year low of $68.37 and a 1 year high of $89.35.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.07. The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.02 billion. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.03 EPS. On average, equities analysts anticipate that Omnicom Group will post 8.25 EPS for the current year.

Institutional Trading of Omnicom Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capital A Wealth Management LLC boosted its holdings in shares of Omnicom Group by 548.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock valued at $27,000 after buying an additional 318 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in 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 acquiring an additional 319 shares during the last quarter. Harbor Asset Planning Inc. bought a new position in shares of Omnicom Group in the 2nd quarter valued at about $29,000. Meeder Asset Management Inc. grew its position in shares of Omnicom Group by 289.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 272 shares during the period. Finally, Westside Investment Management Inc. increased its stake in shares of Omnicom Group by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock worth $31,000 after purchasing an additional 202 shares during the last quarter. 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.