Omnicom Group (OMC) : Traders are bullish on Omnicom Group (OMC) as it has outperformed the S&P 500 by a wide margin of 1.64% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.14%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.11% in the last 1 week, and is up 2.03% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Omnicom Group Inc. is up 2.54% in the last 3-month period. Year-to-Date the stock performance stands at 12.93%. The stock has recorded a 20-day Moving Average of 1.88% and the 50-Day Moving Average is 2.2%.
Omnicom Group (NYSE:OMC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $83.93 and $83.61 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $84.62. The buying momentum continued till the end and the stock did not give up its gains. It closed at $84.35, notching a gain of 0.19% for the day. The total traded volume was 1,058,468 . The stock had closed at $84.19 on the previous day.
Also, Brokerage firm Barclays downgrades its rating on Omnicom Group (NYSE:OMC). As per the latest information, the brokerage house raises the price target to $90 per share from a prior target of $82. The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by the firm was issued on April 20, 2016.
Omnicom Group Inc. is a holding company. The Company provides advertising, marketing and corporate communications services. The Companys branded networks and agencies operate in 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. Its services in these disciplines include advertising, brand consultancy, content marketing, corporate social responsibility consulting, crisis communications, data analytics and database management, among others. Its advertising brands include BBDO Worldwide, DDB Worldwide and TBWA Worldwide. The Companys branded agency networks operate in geographic regions, including the Americas, which includes North America and Latin America; EMEA, which includes Europe, the Middle East and Africa, and Asia Pacific, which includes Australia, China, India, Japan, Korea, New Zealand, Singapore and other Asian countries.