ACCO Brands (NYSE:ACCO) Upgraded by StockNews.com to “Buy” Rating

ACCO Brands (NYSE:ACCO) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and 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 for the company in a report on Tuesday, February 25th.

ACCO Brands Trading Down 0.5 %

Shares of NYSE ACCO traded down $0.02 during midday trading on Wednesday, hitting $4.76. The stock had a trading volume of 1,557,786 shares, compared to its average volume of 632,693. The firm has a market cap of $441.74 million, a P/E ratio of -4.49, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94. The company’s 50-day simple moving average is $5.05 and its 200 day simple moving average is $5.34.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data 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). ACCO Brands had a positive return on equity of 14.96% and a negative net margin of 6.10%. The firm had revenue of $448.10 million during the quarter, compared to analyst estimates of $455.06 million. Research analysts anticipate that ACCO Brands will post 1.02 EPS for the current year.

Institutional Investors Weigh In On ACCO Brands

Several large investors have recently bought and sold shares of ACCO. Wealth Enhancement Advisory Services LLC acquired a new position in shares of ACCO Brands in the 3rd quarter valued at $86,000. GSA Capital Partners LLP increased its holdings in shares of ACCO Brands by 137.6% in the third quarter. GSA Capital Partners LLP now owns 355,472 shares of the industrial products company’s stock worth $1,944,000 after acquiring an additional 205,867 shares in the last quarter. Royce & Associates LP acquired a new stake in shares of ACCO Brands during the third quarter worth about $80,000. Empowered Funds LLC lifted its holdings in shares of ACCO Brands by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 435,921 shares of the industrial products company’s stock valued at $2,384,000 after purchasing an additional 22,110 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of ACCO Brands in the 3rd quarter valued at approximately $98,000. 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.