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

ACCO Brands (NYSE:ACCO) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

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

ACCO Brands Price Performance

ACCO stock opened at $4.51 on Friday. The business has a 50 day moving average price of $4.90 and a 200 day moving average price of $5.27. 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 stock has a market cap of $419.08 million, a price-to-earnings ratio of -4.26, 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.

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

Institutional Trading of ACCO Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DMC Group LLC grew its stake in shares of ACCO Brands by 9.5% in the 4th quarter. DMC Group LLC now owns 28,783 shares of the industrial products company’s stock valued at $151,000 after purchasing an additional 2,496 shares during the last quarter. Somerset Trust Co grew its position in ACCO Brands by 22.1% in the 4th quarter. Somerset Trust Co now owns 15,067 shares of the industrial products company’s stock valued at $79,000 after buying an additional 2,724 shares during the last quarter. FMR LLC grew its position in ACCO Brands by 123.0% in the 3rd quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock valued at $32,000 after buying an additional 3,260 shares during the last quarter. Nebula Research & Development LLC increased its stake in ACCO Brands by 8.6% in the 4th quarter. Nebula Research & Development LLC now owns 59,572 shares of the industrial products company’s stock valued at $313,000 after buying an additional 4,732 shares during the period. Finally, XTX Topco Ltd raised its position in ACCO Brands by 8.8% during the 3rd quarter. XTX Topco Ltd now owns 58,905 shares of the industrial products company’s stock worth $322,000 after buying an additional 4,781 shares during the last quarter. 84.56% of the stock is owned by hedge funds and other institutional investors.

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.