ACCO Brands (NYSE:ACCO) received a $13.00 target price from analysts at Barrington Research in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the industrial products company’s stock. Barrington Research’s target price suggests a potential upside of 51.16% from the company’s current price.
Other analysts also recently issued reports about the company. Zacks Investment Research downgraded ACCO Brands from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. ValuEngine downgraded ACCO Brands from a “hold” rating to a “sell” rating in a research report on Saturday, September 22nd. Finally, Noble Financial reissued a “buy” rating and set a $15.00 price objective on shares of ACCO Brands in a research report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $15.25.
NYSE ACCO opened at $8.60 on Monday. ACCO Brands has a 52 week low of $7.39 and a 52 week high of $14.63. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.03 and a current ratio of 1.63. The firm has a market cap of $919.52 million, a PE ratio of 7.23, a P/E/G ratio of 0.76 and a beta of 1.65.
ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $507.30 million for the quarter, compared to analysts’ expectations of $533.26 million. ACCO Brands had a return on equity of 17.38% and a net margin of 7.36%. The firm’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 EPS. Sell-side analysts expect that ACCO Brands will post 1.17 earnings per share for the current fiscal year.
In other news, VP Neal V. Fenwick bought 10,000 shares of the company’s stock in a transaction on Wednesday, October 31st. The stock was bought at an average cost of $8.06 per share, with a total value of $80,600.00. Following the transaction, the vice president now directly owns 520,225 shares in the company, valued at approximately $4,193,013.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Pamela R. Schneider bought 3,100 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was purchased at an average cost of $8.10 per share, with a total value of $25,110.00. Following the completion of the transaction, the senior vice president now owns 81,788 shares in the company, valued at $662,482.80. The disclosure for this purchase can be found here. Insiders have purchased a total of 19,647 shares of company stock valued at $156,253 over the last three months. Corporate insiders own 4.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACCO. Bessemer Group Inc. acquired a new position in ACCO Brands in the 3rd quarter valued at about $119,000. Meeder Asset Management Inc. grew its position in ACCO Brands by 710.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 11,050 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 9,687 shares in the last quarter. Sun Life Financial INC acquired a new position in ACCO Brands in the 2nd quarter valued at about $140,000. Hartford Investment Management Co. acquired a new position in ACCO Brands in the 2nd quarter valued at about $183,000. Finally, Cambridge Investment Research Advisors Inc. grew its position in ACCO Brands by 27.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 24,958 shares of the industrial products company’s stock valued at $346,000 after acquiring an additional 5,380 shares in the last quarter. 90.82% of the stock is owned by institutional investors.
ACCO Brands Company Profile
ACCO Brands Corporation designs, manufactures, and markets, consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.
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