Barrington Research Issues Pessimistic Forecast for ACCO Brands (NYSE:ACCO) Stock Price

ACCO Brands (NYSE:ACCO) had its price target dropped by equities research analysts at Barrington Research from $7.50 to $7.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Barrington Research’s price objective would suggest a potential upside of 54.02% from the stock’s current price.

Separately, StockNews.com cut shares of ACCO Brands from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th.

ACCO Brands Price Performance

ACCO stock opened at $4.55 on Tuesday. The company has a fifty day moving average price of $5.18 and a 200-day moving average price of $5.37. The company has a market capitalization of $422.14 million, a P/E ratio of -4.29, a PEG ratio of 0.37 and a beta of 1.68. ACCO Brands has a 52-week low of $4.30 and a 52-week high of $6.43. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.60.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings results on Thursday, February 20th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $448.10 million for the quarter, compared to the consensus estimate of $455.06 million. ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. As a group, equities analysts expect that ACCO Brands will post 1.02 EPS for the current year.

Institutional Investors Weigh In On ACCO Brands

A number of large investors have recently bought and sold shares of ACCO. Millennium Management LLC grew its holdings in shares of ACCO Brands by 127.8% during the fourth quarter. Millennium Management LLC now owns 1,532,460 shares of the industrial products company’s stock valued at $8,045,000 after buying an additional 859,787 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of ACCO Brands by 37.4% during the fourth quarter. American Century Companies Inc. now owns 2,067,924 shares of the industrial products company’s stock valued at $10,857,000 after buying an additional 562,985 shares during the last quarter. Capital Management Corp VA grew its holdings in shares of ACCO Brands by 14.3% during the third quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock valued at $19,288,000 after buying an additional 439,810 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of ACCO Brands by 663.4% during the fourth quarter. Alliancebernstein L.P. now owns 410,236 shares of the industrial products company’s stock valued at $2,154,000 after buying an additional 356,500 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of ACCO Brands by 135.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 577,039 shares of the industrial products company’s stock valued at $3,029,000 after buying an additional 331,537 shares during the last quarter. 84.56% of the stock is currently owned by institutional investors and hedge funds.

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.