Omnicom Group Inc. (OMC) Raised to “Buy” at Zacks Investment Research

Omnicom Group Inc. (NYSE:OMC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, July 14th. The firm presently has a $91.00 target price on the business services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 15.79% from the company’s previous close.

According to Zacks, “Omnicom outperformed the Zacks categorized Advertising and Marketing space in the last three months. The companyis experiencing continuous revenue growth driven by healthy performance in developed markets like the U.S. and developing markets like Asia. The increasing demand for media services, speedy growth of technologies and massive proliferation of channels are likely to improve the top line in the future. The company is moving into new service areas and building upon its digital and analytical capabilities to spur growth in key markets. Omnicom is also concentrating on strengthening its business and expanding its client base globally through acquisition of complementary companies. However, a competitive and fragmented communications services industry coupled with high susceptibility to concentration risks pose a threat to Omnicom’s profitability.”

Other research analysts have also issued reports about the stock. Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Barclays PLC reaffirmed a “hold” rating and set a $86.00 price objective on shares of Omnicom Group in a research note on Thursday, April 20th. Evercore ISI initiated coverage on shares of Omnicom Group in a research note on Monday, April 17th. They set an “in-line” rating and a $91.00 price objective for the company. They noted that the move was a valuation call. Wedbush lowered their target price on shares of Omnicom Group from $90.00 to $89.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. Finally, Macquarie lowered shares of Omnicom Group from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $90.00 to $83.00 in a research note on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Omnicom Group currently has a consensus rating of “Hold” and a consensus price target of $86.00.

Omnicom Group (OMC) traded down 0.59% during midday trading on Friday, reaching $78.59. 1,436,217 shares of the company were exchanged. The firm has a market capitalization of $18.13 billion, a PE ratio of 15.87 and a beta of 1.25. Omnicom Group has a 52 week low of $77.50 and a 52 week high of $89.66. The company has a 50-day moving average of $81.39 and a 200 day moving average of $83.64.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.38 by $0.02. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.74 billion. Omnicom Group had a net margin of 7.61% and a return on equity of 42.54%. Omnicom Group’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 earnings per share. Equities analysts predict that Omnicom Group will post $5.08 earnings per share for the current year.

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In related news, Chairman Bruce Crawford sold 22,800 shares of Omnicom Group stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $84.91, for a total value of $1,935,948.00. Following the completion of the sale, the chairman now directly owns 105,250 shares in the company, valued at $8,936,777.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda Johnson Rice sold 483 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $82.19, for a total transaction of $39,697.77. Following the completion of the transaction, the director now owns 7,724 shares of the company’s stock, valued at $634,835.56. The disclosure for this sale can be found here. Insiders sold 24,183 shares of company stock valued at $2,046,845 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Omnicom Group by 3,091.8% in the first quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock worth $1,469,108,000 after buying an additional 16,507,161 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Omnicom Group by 0.7% in the first quarter. Vanguard Group Inc. now owns 15,866,652 shares of the business services provider’s stock worth $1,367,864,000 after buying an additional 116,893 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of Omnicom Group by 2.6% in the second quarter. First Eagle Investment Management LLC now owns 13,429,677 shares of the business services provider’s stock worth $1,113,320,000 after buying an additional 341,406 shares during the last quarter. State Street Corp raised its stake in shares of Omnicom Group by 1.2% in the first quarter. State Street Corp now owns 9,865,534 shares of the business services provider’s stock worth $850,497,000 after buying an additional 121,470 shares during the last quarter. Finally, Pzena Investment Management LLC raised its stake in shares of Omnicom Group by 21.3% in the second quarter. Pzena Investment Management LLC now owns 5,978,986 shares of the business services provider’s stock worth $495,658,000 after buying an additional 1,049,746 shares during the last quarter. Institutional investors and hedge funds own 98.68% of the company’s stock.

About Omnicom Group

Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.

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