ACCO Brands (NYSE:ACCO) Stock Rating Upgraded by StockNews.com

ACCO Brands (NYSE:ACCO - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.

Separately, Barrington Research cut their price target on 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 Trading Down 3.8 %

NYSE ACCO traded down $0.17 during trading hours on Friday, hitting $4.21. 990,642 shares of the company's stock were exchanged, compared to its average volume of 661,855. The firm has a market cap of $390.56 million, a price-to-earnings ratio of -3.97, a PEG ratio of 0.37 and a beta of 1.74. The stock has a 50-day simple moving average of $4.87 and a 200 day simple moving average of $5.26. The company has a current ratio of 1.60, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. ACCO Brands has a 1-year low of $4.16 and a 1-year high of $6.44.

ACCO Brands (NYSE:ACCO - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $455.06 million. ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. On average, equities analysts forecast that ACCO Brands will post 1.02 EPS for the current fiscal year.

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Hedge Funds Weigh In On ACCO Brands

A number of hedge funds have recently bought and sold shares of the company. FMR LLC lifted its position 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 purchasing an additional 3,260 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in ACCO Brands in the 3rd quarter valued at about $61,000. Burns Matteson Capital Management LLC purchased a new stake in ACCO Brands in the 4th quarter valued at about $61,000. Y Intercept Hong Kong Ltd bought a new position in shares of ACCO Brands during the 3rd quarter worth approximately $63,000. Finally, Xponance Inc. purchased a new position in shares of ACCO Brands in the 4th quarter worth approximately $65,000. 84.56% of the stock is owned by hedge funds and other institutional investors.

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.