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

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

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

ACCO Brands Trading Down 3.0 %

Shares of ACCO stock opened at $4.38 on Friday. ACCO Brands has a fifty-two week low of $4.30 and a fifty-two week high of $6.44. 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 $406.35 million, a P/E ratio of -4.13, a P/E/G ratio of 0.37 and a beta of 1.74. The business has a fifty day simple moving average of $4.89 and a 200-day simple moving average of $5.26.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data on Thursday, February 20th. The industrial products company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company 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%. On average, analysts forecast that ACCO Brands will post 1.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ACCO Brands

A number of large investors have recently bought and sold shares of ACCO. Intech Investment Management LLC acquired a new position in ACCO Brands during the 3rd quarter valued at approximately $98,000. FMR LLC boosted 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 acquiring an additional 3,260 shares during the period. HighTower Advisors LLC grew its position in shares of ACCO Brands by 21.0% during the third quarter. HighTower Advisors LLC now owns 72,042 shares of the industrial products company’s stock worth $394,000 after acquiring an additional 12,508 shares during the last quarter. Quarry LP increased its holdings in shares of ACCO Brands by 749.0% in the 3rd quarter. Quarry LP now owns 16,573 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 14,621 shares during the period. Finally, Stifel Financial Corp lifted its position in ACCO Brands by 2.7% in the 3rd quarter. Stifel Financial Corp now owns 313,644 shares of the industrial products company’s stock valued at $1,716,000 after purchasing an additional 8,153 shares during the last quarter. Institutional investors own 84.56% of the company’s stock.

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.