Barrington Research Forecasts Strong Price Appreciation for ACCO Brands (NYSE:ACCO) Stock

ACCO Brands (NYSE:ACCO) had its target price increased by stock analysts at Barrington Research from $7.00 to $7.50 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Barrington Research’s price target would indicate a potential upside of 28.87% from the company’s previous close.

Separately, StockNews.com upgraded ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th.

ACCO Brands Price Performance

ACCO stock opened at $5.82 on Friday. The company has a market cap of $540.56 million, a PE ratio of -3.08, a price-to-earnings-growth ratio of 0.45 and a beta of 1.63. The company has a current ratio of 1.60, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. The stock has a 50-day moving average price of $5.41 and a two-hundred day moving average price of $5.13. ACCO Brands has a 12-month low of $4.36 and a 12-month high of $6.62.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. ACCO Brands had a negative net margin of 10.64% and a positive return on equity of 14.30%. The firm had revenue of $420.90 million for the quarter, compared to analysts’ expectations of $418.20 million. During the same period in the previous year, the company posted $0.24 earnings per share. ACCO Brands’s revenue was down 6.0% compared to the same quarter last year. As a group, research analysts predict that ACCO Brands will post 1.04 EPS for the current year.

Insider Buying and Selling

In related news, SVP Pamela R. Schneider sold 19,166 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total value of $104,838.02. Following the completion of the sale, the senior vice president now directly owns 243,899 shares of the company’s stock, valued at $1,334,127.53. The trade was a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On ACCO Brands

A number of institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its position in shares of ACCO Brands by 4.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,023,805 shares of the industrial products company’s stock worth $32,950,000 after buying an additional 272,454 shares during the period. Wellington Management Group LLP boosted its stake in shares of ACCO Brands by 1.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,776,716 shares of the industrial products company’s stock worth $26,129,000 after acquiring an additional 81,990 shares in the last quarter. Capital Management Corp VA increased its stake in ACCO Brands by 14.3% in the 3rd quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock worth $19,288,000 after purchasing an additional 439,810 shares in the last quarter. Geode Capital Management LLC increased its position in shares of ACCO Brands by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,166,912 shares of the industrial products company’s stock worth $11,855,000 after acquiring an additional 53,490 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in ACCO Brands by 34.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,656,925 shares of the industrial products company’s stock worth $7,788,000 after purchasing an additional 426,201 shares in the last quarter. Institutional investors own 84.56% of the company’s stock.

ACCO Brands Company Profile

ACCO Brands Corporation designs, manufactures, and markets consumer, school, technology, and office products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company provides computer and gaming accessories, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; sheet protectors and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.