ACCO Brands (NYSE:ACCO – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, Zacks.com reports. The firm currently has a $8.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 9.29% from the company’s previous close.
According to Zacks, “ACCO Brands Corporation is a world leader in branded office products. Its industry-leading brands include Swingline, Kensington, Wilson Jones, Quartet, GBC, and Day-Timer, among others. Under the GBC brand, the Company is also a leader in the professional printing market. “
Other equities research analysts have also recently issued research reports about the company. TheStreet cut ACCO Brands from a “b” rating to a “c+” rating in a report on Wednesday, April 27th. StockNews.com cut shares of ACCO Brands from a “buy” rating to a “hold” rating in a research report on Friday, April 29th.
Shares of ACCO Brands stock traded up $0.07 during mid-day trading on Thursday, reaching $7.32. 15,507 shares of the stock traded hands, compared to its average volume of 591,449. The business has a 50-day moving average of $7.66 and a 200 day moving average of $8.13. ACCO Brands has a fifty-two week low of $6.96 and a fifty-two week high of $9.76. The stock has a market capitalization of $709.94 million, a PE ratio of 5.95 and a beta of 1.90. The company has a quick ratio of 0.85, a current ratio of 1.68 and a debt-to-equity ratio of 1.26.
ACCO Brands (NYSE:ACCO – Get Rating) last announced its earnings results on Tuesday, April 26th. The industrial products company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. ACCO Brands had a return on equity of 16.57% and a net margin of 5.82%. During the same quarter in the previous year, the company earned $0.10 earnings per share. On average, equities research analysts expect that ACCO Brands will post 1.58 EPS for the current fiscal year.
In related news, COO Thomas W. Tedford sold 92,838 shares of the company’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $8.55, for a total transaction of $793,764.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Neal V. Fenwick sold 66,313 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $8.60, for a total transaction of $570,291.80. The disclosure for this sale can be found here. Insiders have sold 208,886 shares of company stock worth $1,791,778 over the last quarter. Insiders own 6.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Voya Investment Management LLC increased its stake in ACCO Brands by 2.1% in the third quarter. Voya Investment Management LLC now owns 57,942 shares of the industrial products company’s stock valued at $498,000 after purchasing an additional 1,211 shares during the last quarter. Secure Asset Management LLC grew its position in ACCO Brands by 11.2% during the fourth quarter. Secure Asset Management LLC now owns 16,690 shares of the industrial products company’s stock worth $138,000 after buying an additional 1,684 shares during the period. Captrust Financial Advisors grew its position in shares of ACCO Brands by 50.8% in the third quarter. Captrust Financial Advisors now owns 5,575 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 1,878 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of ACCO Brands by 36.0% in the first quarter. Great West Life Assurance Co. Can now owns 7,435 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 1,968 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of ACCO Brands by 4.2% during the fourth quarter. Deutsche Bank AG now owns 57,151 shares of the industrial products company’s stock valued at $473,000 after buying an additional 2,288 shares during the period. Institutional investors own 85.00% of the company’s stock.
ACCO Brands Company Profile (Get Rating)
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, calendars, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Want More Great Investing Ideas?
Receive News & Ratings for ACCO Brands Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for ACCO Brands and related companies with MarketBeat.com’s FREE daily email newsletter.