Omnicom Group (NYSE:OMC) Price Target Raised to $93.00 at Wells Fargo & Company

Omnicom Group (NYSE:OMC) had its price target upped by analysts at Wells Fargo & Company from $91.00 to $93.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 20.55% from the company’s previous close.

Other research analysts have also issued reports about the company. Rothschild & Co Redburn started coverage on Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Citigroup lowered their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Morgan Stanley upped their target price on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, The Goldman Sachs Group assumed coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target on the stock. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Omnicom Group has a consensus rating of “Hold” and a consensus price target of $99.62.

Omnicom Group Stock Performance

NYSE:OMC traded down $5.43 during mid-day trading on Thursday, hitting $77.15. The stock had a trading volume of 837,394 shares, compared to its average volume of 4,558,254. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The company has a 50 day simple moving average of $77.09 and a 200-day simple moving average of $76.87. The stock has a market capitalization of $21.99 billion, a price-to-earnings ratio of 66.63, a P/E/G ratio of 0.52 and a beta of 0.63. Omnicom Group has a 52 week low of $66.33 and a 52 week high of $87.41.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, July 28th. The business services provider reported $2.65 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.02). Omnicom Group had a return on equity of 25.38% and a net margin of 1.74%.The firm had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter last year, the company posted $2.05 EPS. Omnicom Group’s revenue for the quarter was up 63.4% on a year-over-year basis. On average, research analysts expect that Omnicom Group will post 10.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Omnicom Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Omnicom Group by 64.2% in the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock worth $3,143,930,000 after purchasing an additional 15,220,444 shares in the last quarter. State Street Corp lifted its stake in Omnicom Group by 40.4% during the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock valued at $1,933,891,000 after buying an additional 6,813,441 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Omnicom Group by 69.6% in the fourth quarter. Bank of New York Mellon Corp now owns 11,283,863 shares of the business services provider’s stock worth $911,172,000 after buying an additional 4,631,394 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Omnicom Group by 522.9% in the fourth quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider’s stock worth $419,858,000 after buying an additional 4,364,797 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Omnicom Group by 57.1% in the fourth quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock worth $690,327,000 after acquiring an additional 3,117,188 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Company Profile

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.