ACCO Brands (NYSE:ACCO) Cut to Buy at StockNews.com

ACCO Brands (NYSE:ACCO) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

Separately, Barrington Research lifted their target price on ACCO Brands from $7.00 to $7.50 and gave the company an “outperform” rating in a research note on Friday, November 22nd.

ACCO Brands Trading Down 0.5 %

NYSE:ACCO opened at $5.43 on Friday. ACCO Brands has a 52 week low of $4.36 and a 52 week high of $6.62. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38. The company has a market cap of $504.34 million, a PE ratio of -2.87, a P/E/G ratio of 0.48 and a beta of 1.67. The business’s 50 day moving average is $5.65 and its two-hundred day moving average is $5.24.

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

Hedge Funds Weigh In On ACCO Brands

Institutional investors have recently modified their holdings of the company. DMC Group LLC increased its position in ACCO Brands by 10.7% in the 3rd quarter. DMC Group LLC now owns 26,287 shares of the industrial products company’s stock valued at $144,000 after acquiring an additional 2,538 shares during the period. Wedge Capital Management L L P NC grew its stake in shares of ACCO Brands by 1.6% in the third quarter. Wedge Capital Management L L P NC now owns 179,805 shares of the industrial products company’s stock worth $984,000 after purchasing an additional 2,788 shares in the last quarter. nVerses Capital LLC grew its stake in shares of ACCO Brands by 68.3% in the third quarter. nVerses Capital LLC now owns 6,900 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 2,800 shares in the last quarter. FMR LLC increased its holdings in shares of ACCO Brands by 123.0% during the third quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 3,260 shares during the period. Finally, XTX Topco Ltd raised its stake in shares of ACCO Brands by 8.8% during the third quarter. XTX Topco Ltd now owns 58,905 shares of the industrial products company’s stock valued at $322,000 after purchasing an additional 4,781 shares in the last quarter. Institutional investors own 84.56% of the company’s stock.

About ACCO Brands

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.