Wells Fargo & Company Downgrades Omnicom Group (NYSE:OMC) to Equal Weight

Omnicom Group (NYSE:OMC) was downgraded by equities researchers at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday, Briefing.com reports. They presently have a $110.00 price objective on the business services provider’s stock, up from their prior price objective of $106.00. Wells Fargo & Company‘s price target would indicate a potential upside of 5.75% from the company’s previous close.

OMC has been the subject of several other reports. JPMorgan Chase & Co. boosted their price objective on Omnicom Group from $106.00 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Macquarie restated an “outperform” rating and issued a $110.00 price objective on shares of Omnicom Group in a report on Wednesday, July 17th. UBS Group lifted their target price on shares of Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Bank of America increased their price target on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.70.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $104.02 on Wednesday. The firm has a 50 day simple moving average of $99.55 and a 200 day simple moving average of $95.07. Omnicom Group has a fifty-two week low of $73.28 and a fifty-two week high of $105.36. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81. The firm has a market cap of $20.37 billion, a P/E ratio of 14.06, a P/E/G ratio of 2.39 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. During the same period in the previous year, the company posted $1.86 earnings per share. Sell-side analysts predict that Omnicom Group will post 7.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now directly owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Linda Johnson Rice sold 488 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now owns 10,356 shares in the company, valued at $941,153.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the sale, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Iowa State Bank raised its position in Omnicom Group by 0.4% in the 3rd quarter. Iowa State Bank now owns 24,447 shares of the business services provider’s stock valued at $2,528,000 after buying an additional 101 shares during the last quarter. Center For Asset Management LLC lifted its position in shares of Omnicom Group by 2.6% in the second quarter. Center For Asset Management LLC now owns 4,277 shares of the business services provider’s stock worth $384,000 after purchasing an additional 107 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of Omnicom Group by 1.1% in the third quarter. Park Avenue Securities LLC now owns 10,151 shares of the business services provider’s stock worth $1,049,000 after purchasing an additional 113 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in Omnicom Group by 2.9% during the first quarter. Concurrent Investment Advisors LLC now owns 4,271 shares of the business services provider’s stock worth $413,000 after purchasing an additional 119 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in Omnicom Group by 18.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 780 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 119 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

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.