Price Action Report: What’s Propelling Omnicom Group Inc. to Reach Record High?

Price Action Report: What's Propelling Omnicom Group Inc. to Reach Record High?

The stock of Omnicom Group Inc. (NYSE:OMC) reached all time high today, Nov, 22 and still has $91.02 target or 4.00% above today’s $87.52 share price. This indicates more upside for the $21.01 billion company. This technical setup was reported by Barchart.com. If the $91.02 PT is reached, the company will be worth $840.40M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 888,100 shares traded hands. Omnicom Group Inc. (NYSE:OMC) has risen 3.51% since April 20, 2016 and is uptrending. It has underperformed by 1.04% the S&P500.

Omnicom Group Inc. (NYSE:OMC) Ratings Coverage

Out of 8 analysts covering Omnicom (NYSE:OMC), 2 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 25% are positive. Omnicom has been the topic of 11 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The rating was downgraded by Barclays Capital on Wednesday, April 20 to “Equal-Weight”. The rating was initiated by RBC Capital Markets with “Sector Perform” on Friday, October 7. The rating was downgraded by Wells Fargo on Thursday, April 14 to “Market Perform”. JP Morgan maintained the shares of OMC in a report on Monday, March 21 with “Overweight” rating. As per Tuesday, August 25, the company rating was downgraded by Zacks. Pivotal Research maintained Omnicom Group Inc. (NYSE:OMC) rating on Monday, October 17. Pivotal Research has “Hold” rating and $86 price target. As per Thursday, September 15, the company rating was initiated by Credit Suisse. The company was upgraded on Thursday, July 23 by Argus Research. The rating was upgraded by Pivotal Research on Friday, October 16 to “Hold”. The stock of Omnicom Group Inc. (NYSE:OMC) has “Market Perform” rating given on Wednesday, July 20 by Telsey Advisory Group.

According to Zacks Investment Research, “Omnicom Group Inc. provides corporate communications services to clients worldwide on a global, pan-regional, national and local basis. The corporate communications services offered by the company include advertising in various media such as television, radio, newspaper, magazines, outdoor and the internet, as well as public relations, specialty advertising, direct response and promotional marketing, strategic media planning and buying, and internet and digital media development.”

Insitutional Activity: The institutional sentiment increased to 1.03 in Q2 2016. Its up 0.11, from 0.92 in 2016Q1. The ratio improved, as 51 funds sold all Omnicom Group Inc. shares owned while 238 reduced positions. 58 funds bought stakes while 209 increased positions. They now own 225.02 million shares or 3.73% less from 233.74 million shares in 2016Q1.
Ibm Retirement Fund accumulated 0.09% or 31,082 shares. Dalton Greiner Hartman Maher reported 148,845 shares or 0.75% of all its holdings. Teacher Retirement Of Texas accumulated 0.11% or 193,765 shares. Richard Bernstein Advsr Limited Liability Company accumulated 0.73% or 94,367 shares. Cantab Cap Ptnrs Ltd Liability Partnership has 17,350 shares for 0% of their US portfolio. Endurance Wealth accumulated 0.01% or 568 shares. Arizona State Retirement Sys last reported 83,156 shares in the company. Moreover, Plante Moran Financial Advsr has 0% invested in Omnicom Group Inc. (NYSE:OMC) for 73 shares. Moreover, Allianz Asset Mgmt Ag has 0% invested in Omnicom Group Inc. (NYSE:OMC) for 21,012 shares. Cwm Lc last reported 0% of its portfolio in the stock. Wealthtrust has 0% invested in the company for 84 shares. Piedmont Limited Liability Com, a North Carolina-based fund reported 7 shares. Synovus Fin Corporation reported 200 shares or 0% of all its holdings. Brown Brothers Harriman & accumulated 1,679 shares or 0% of the stock. Sumitomo Mitsui Asset Management Limited last reported 18,527 shares in the company.

Insider Transactions: Since May 24, 2016, the stock had 0 insider purchases, and 4 insider sales for $2.09 million net activity. Shares for $2.89M were sold by WREN JOHN on Tuesday, May 24. RICE LINDA JOHNSON also sold $14,818 worth of Omnicom Group Inc. (NYSE:OMC) shares. On Thursday, June 9 the insider CRAWFORD BRUCE sold $1.92 million. Shares for $79,570 were sold by Hewitt Dennis E. on Thursday, October 20.

More news for Omnicom Group Inc. (NYSE:OMC) were recently published by: Forbes.com, which released: “Omnicom Group Reaches Analyst Target Price” on November 18, 2016. Fool.com‘s article titled: “AT&T Inc. Seals Huge Advertising Deal With Omnicom Group Inc.” and published on August 20, 2016 is yet another important article.

OMC Company Profile

Omnicom Group Inc., incorporated on November 17, 1944, is a holding company. The Firm 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. The Firm caters to various industry sectors, such as food and beverage, consumer products, pharmaceuticals and healthcare, financial services, technology, travel and entertainment, telecommunications and retail.

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