Omnicom Group (NYSE:OMC - Get Free Report) had its price target dropped by equities researchers at Barclays from $121.00 to $110.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the business services provider's stock. Barclays's target price points to a potential upside of 26.51% from the company's previous close.
Other analysts also recently issued reports about the stock. Wells Fargo & Company lowered their price target on shares of Omnicom Group from $110.00 to $99.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 10th. Macquarie reissued an "outperform" rating and set a $120.00 price target on shares of Omnicom Group in a report on Wednesday, December 11th. JPMorgan Chase & Co. increased their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Finally, UBS Group increased their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $108.63.
Check Out Our Latest Analysis on Omnicom Group
Shares of OMC stock traded up $0.80 during trading hours on Friday, hitting $86.95. The company's stock had a trading volume of 179,330 shares, compared to its average volume of 2,139,500. The company has a 50 day moving average of $92.23 and a 200 day moving average of $96.46. The stock has a market cap of $16.97 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.88 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Omnicom Group has a 12-month low of $81.42 and a 12-month high of $107.00.
Hedge funds have recently modified their holdings of the business. ST Germain D J Co. Inc. acquired a new stake in shares of Omnicom Group in the fourth quarter valued at about $25,000. Versant Capital Management Inc grew its holdings in shares of Omnicom Group by 645.2% in the fourth quarter. Versant Capital Management Inc now owns 313 shares of the business services provider's stock valued at $27,000 after purchasing an additional 271 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of Omnicom Group in the third quarter valued at about $33,000. Davis Capital Management purchased a new stake in shares of Omnicom Group in the third quarter valued at about $36,000. Finally, HM Payson & Co. grew its holdings in shares of Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider's stock valued at $38,000 after purchasing an additional 169 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Omnicom Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Omnicom Group wasn't on the list.
While Omnicom Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.