JPMorgan Chase & Co. Issues Pessimistic Forecast for Omnicom Group (NYSE:OMC) Stock Price

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

A number of other analysts have also recently weighed in on the stock. Citigroup reissued a "buy" rating and set a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a report on Monday, June 23rd. Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Wells Fargo & Company cut 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. Finally, UBS Group dropped their price target on shares of Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Omnicom Group presently has an average rating of "Moderate Buy" and a consensus price target of $95.29.

Omnicom Group Stock Down 0.9%

NYSE OMC traded down $0.64 during trading hours on Thursday, reaching $72.79. 3,599,327 shares of the company traded hands, compared to its average volume of 2,667,407. Omnicom Group has a 12 month low of $68.37 and a 12 month high of $107.00. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $14.20 billion, a PE ratio of 9.96, a PEG ratio of 1.62 and a beta of 0.92. The company has a 50 day moving average of $73.29 and a two-hundred day moving average of $78.53.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The business services provider reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.07. The company had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $3.73 billion. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. As a group, equities analysts expect that Omnicom Group will post 8.25 earnings per share for the current year.

Institutional Investors Weigh In On Omnicom Group

Several large investors have recently made changes to their positions in OMC. Proficio Capital Partners LLC acquired a new position in shares of Omnicom Group during the fourth quarter valued at approximately $5,125,000. AlphaQuest LLC acquired a new position in shares of Omnicom Group during the fourth quarter valued at approximately $362,000. Daiwa Securities Group Inc. increased its stake in shares of Omnicom Group by 11.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 28,861 shares of the business services provider's stock valued at $2,483,000 after acquiring an additional 3,036 shares during the period. Independent Advisor Alliance acquired a new position in shares of Omnicom Group during the fourth quarter valued at approximately $240,000. Finally, HighTower Advisors LLC increased its stake in shares of Omnicom Group by 5.3% during the fourth quarter. HighTower Advisors LLC now owns 291,887 shares of the business services provider's stock valued at $25,114,000 after acquiring an additional 14,637 shares during the period. Institutional investors and hedge funds own 91.97% of the company's stock.

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.