Omnicom Group (OMC) Lifted to Equal Weight at Barclays

Omnicom Group (NYSE:OMC) was upgraded by equities research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research report issued on Wednesday, The Fly reports. The firm currently has a $84.00 price objective on the business services provider’s stock, up from their previous price objective of $76.00. Barclays‘s target price would suggest a potential upside of 3.38% from the company’s current price.

OMC has been the topic of a number of other research reports. Zacks Investment Research raised shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Friday, January 25th. Macquarie set a $76.00 price objective on shares of Omnicom Group and gave the stock a “hold” rating in a report on Thursday, February 14th. Citigroup upped their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. Finally, BMO Capital Markets reduced their price target on shares of Omnicom Group from $84.00 to $83.00 and set an “outperform” rating on the stock in a report on Wednesday, February 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $76.90.

OMC stock opened at $81.25 on Wednesday. The stock has a market cap of $16.93 billion, a P/E ratio of 14.13, a P/E/G ratio of 2.79 and a beta of 0.68. Omnicom Group has a 52 week low of $65.85 and a 52 week high of $82.32. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.41.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, April 16th. The business services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.09. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.51 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 43.14%. The firm’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. On average, equities analysts predict that Omnicom Group will post 5.86 earnings per share for the current year.

In other Omnicom Group news, Director Linda Johnson Rice sold 495 shares of the company’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $74.79, for a total value of $37,021.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Leonard S. Coleman, Jr. sold 2,556 shares of the company’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $75.25, for a total transaction of $192,339.00. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in OMC. BTIM Corp. lifted its stake in shares of Omnicom Group by 3.9% during the first quarter. BTIM Corp. now owns 670,059 shares of the business services provider’s stock valued at $48,907,000 after buying an additional 25,175 shares during the period. Pennsylvania Trust Co lifted its stake in shares of Omnicom Group by 59.6% during the first quarter. Pennsylvania Trust Co now owns 88,058 shares of the business services provider’s stock valued at $7,647,000 after buying an additional 32,882 shares during the period. Retirement Systems of Alabama lifted its stake in shares of Omnicom Group by 0.7% during the first quarter. Retirement Systems of Alabama now owns 104,161 shares of the business services provider’s stock valued at $7,603,000 after buying an additional 689 shares during the period. Virtu Financial LLC purchased a new position in shares of Omnicom Group during the first quarter valued at approximately $228,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Omnicom Group during the first quarter valued at approximately $398,000.

About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.

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