Omnicom Group (NYSE:OMC) Price Target Lowered to $116.00 at JPMorgan Chase & Co.

Omnicom Group (NYSE:OMC) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $119.00 to $116.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 33.05% from the company’s previous close.

A number of other equities research analysts also recently issued reports on OMC. Barclays reduced their price target on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Macquarie reaffirmed an “outperform” rating and set a $120.00 price objective on shares of Omnicom Group in a report on Wednesday, December 11th. UBS Group upped their target price on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company cut their price target on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Omnicom Group has a consensus rating of “Moderate Buy” and an average target price of $108.25.

Omnicom Group Stock Performance

Shares of OMC stock opened at $87.18 on Monday. 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. The company has a market cap of $17.01 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.88 and a beta of 0.98. The stock has a 50 day simple moving average of $91.45 and a 200-day simple moving average of $96.42.

Hedge Funds Weigh In On Omnicom Group

Several institutional investors and hedge funds have recently modified their holdings of the company. ST Germain D J Co. Inc. purchased a new position in shares of Omnicom Group during the 4th quarter worth $25,000. Versant Capital Management Inc lifted its position in Omnicom Group by 645.2% during the fourth quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock worth $27,000 after buying an additional 271 shares during the period. Northwest Investment Counselors LLC acquired a new stake in Omnicom Group in the 3rd quarter worth about $33,000. Davis Capital Management purchased a new stake in Omnicom Group in the 3rd quarter valued at about $36,000. Finally, HM Payson & Co. lifted its holdings in shares of Omnicom Group by 84.5% during the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after acquiring an additional 169 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

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.