Omnicom Group (NYSE:OMC) Price Target Lowered to $96.00 at JPMorgan Chase & Co.

Omnicom Group (NYSE:OMC - Get Free Report) had its price target reduced by stock analysts at JPMorgan Chase & Co. from $104.00 to $96.00 in a report released on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the business services provider's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 31.89% from the stock's previous close.

OMC has been the topic of several other reports. Citigroup reiterated a "buy" rating and set a $103.00 price target on shares of Omnicom Group in a research report on Tuesday, April 15th. Bank of America upgraded Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target on the stock in a research report on Monday, June 23rd. UBS Group decreased their price target on Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Barclays cut Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $105.00 to $80.00 in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company decreased their price objective on shares of Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Omnicom Group has an average rating of "Moderate Buy" and a consensus price target of $95.29.

Omnicom Group Stock Performance

Shares of NYSE OMC traded down $0.64 during mid-day trading on Thursday, hitting $72.79. The company had a trading volume of 3,599,327 shares, compared to its average volume of 2,669,898. The stock's 50-day moving average price is $73.29 and its 200-day moving average price is $78.48. Omnicom Group has a 1 year low of $68.37 and a 1 year high of $107.00. The company has a market capitalization of $14.20 billion, a price-to-earnings ratio of 9.96, a P/E/G ratio of 1.60 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.07. Omnicom Group had a return on equity of 34.85% and a net margin of 9.20%. The firm had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $3.73 billion. On average, sell-side analysts forecast that Omnicom Group will post 8.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. grew its position in Omnicom Group by 17,506.1% during the first quarter. Pacer Advisors Inc. now owns 2,744,080 shares of the business services provider's stock valued at $227,512,000 after acquiring an additional 2,728,494 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Omnicom Group by 50.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider's stock valued at $513,922,000 after acquiring an additional 1,992,695 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in Omnicom Group during the fourth quarter valued at approximately $150,819,000. FMR LLC grew its position in Omnicom Group by 250.1% during the fourth quarter. FMR LLC now owns 2,010,547 shares of the business services provider's stock valued at $172,987,000 after acquiring an additional 1,436,231 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in Omnicom Group by 44.5% during the first quarter. Baird Financial Group Inc. now owns 3,896,270 shares of the business services provider's stock valued at $323,040,000 after acquiring an additional 1,199,725 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Company Profile

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.