JPMorgan Chase & Co. Increases Omnicom Group (NYSE:OMC) Price Target to $108.00

Omnicom Group (NYSE:OMC - Get Free Report) had its price objective increased by equities researchers at JPMorgan Chase & Co. from $104.00 to $108.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the business services provider's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 16.82% from the stock's previous close.

Several other research firms have also issued reports on OMC. Macquarie raised their target price on shares of Omnicom Group from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Tuesday, April 2nd. StockNews.com upgraded Omnicom Group from a "hold" rating to a "buy" rating in a research report on Thursday, April 4th. UBS Group initiated coverage on Omnicom Group in a report on Thursday, January 11th. They issued a "buy" rating and a $117.00 price target on the stock. Wells Fargo & Company raised Omnicom Group from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $91.00 to $106.00 in a research note on Wednesday. Finally, BNP Paribas raised Omnicom Group from a "neutral" rating to an "outperform" rating and set a $115.00 price objective on the stock in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.56.

Omnicom Group Price Performance

Shares of Omnicom Group stock traded up $1.49 during trading hours on Wednesday, reaching $92.45. The company's stock had a trading volume of 3,462,323 shares, compared to its average volume of 1,638,108. The firm has a 50 day moving average price of $91.13 and a 200-day moving average price of $85.09. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.95 and a quick ratio of 0.86. The stock has a market cap of $18.23 billion, a P/E ratio of 13.36, a P/E/G ratio of 2.17 and a beta of 0.97. Omnicom Group has a one year low of $72.20 and a one year high of $99.23.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 16th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.15. Omnicom Group had a return on equity of 39.07% and a net margin of 9.47%. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.58 billion. On average, analysts predict that Omnicom Group will post 7.73 EPS for the current year.

Insider Activity

In other Omnicom Group news, Director Linda Johnson Rice sold 507 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $86.66, for a total transaction of $43,936.62. Following the sale, the director now owns 9,753 shares of the company's stock, valued at approximately $845,194.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Omnicom Group

Large investors have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Omnicom Group by 4.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,964 shares of the business services provider's stock valued at $2,374,000 after acquiring an additional 1,284 shares during the last quarter. Aviva PLC lifted its holdings in shares of Omnicom Group by 27.0% during the 1st quarter. Aviva PLC now owns 81,054 shares of the business services provider's stock valued at $6,880,000 after purchasing an additional 17,251 shares during the last quarter. Prudential PLC acquired a new stake in shares of Omnicom Group in the 1st quarter worth $503,000. National Pension Service boosted its position in shares of Omnicom Group by 644.1% in the 1st quarter. National Pension Service now owns 407,387 shares of the business services provider's stock worth $34,579,000 after purchasing an additional 352,639 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in Omnicom Group during the 1st quarter worth $929,000. 91.97% of the stock is currently owned by institutional investors.

About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.