StockNews.com Upgrades ACCO Brands (NYSE:ACCO) to “Buy”

ACCO Brands (NYSE:ACCO) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Separately, Barrington Research lowered their target price on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th.

ACCO Brands Price Performance

ACCO opened at $4.72 on Wednesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.60. The firm has a market cap of $438.21 million, a P/E ratio of -4.45, a PEG ratio of 0.37 and a beta of 1.74. ACCO Brands has a fifty-two week low of $4.30 and a fifty-two week high of $6.44. The firm has a 50-day moving average of $5.05 and a 200 day moving average of $5.34.

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

Hedge Funds Weigh In On ACCO Brands

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in ACCO Brands by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 6,369,804 shares of the industrial products company’s stock worth $33,441,000 after buying an additional 106,256 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in ACCO Brands by 1.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,120,891 shares of the industrial products company’s stock worth $31,767,000 after buying an additional 97,086 shares during the last quarter. Wellington Management Group LLP raised its position in ACCO Brands by 1.7% in 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 buying an additional 81,990 shares during the last quarter. Capital Management Corp VA raised its position in ACCO Brands by 1.3% in the 4th quarter. Capital Management Corp VA now owns 3,571,860 shares of the industrial products company’s stock worth $18,752,000 after buying an additional 45,765 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in ACCO Brands by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,166,912 shares of the industrial products company’s stock worth $11,855,000 after buying an additional 53,490 shares during the last quarter. Hedge funds and other 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.