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

ACCO Brands (NYSE:ACCO - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research report issued 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 on the stock in a research note on Tuesday, February 25th.

ACCO Brands Stock Performance

ACCO Brands stock traded down $0.02 on Wednesday, reaching $4.76. 1,557,786 shares of the stock were exchanged, compared to its average volume of 632,693. The stock has a market cap of $441.74 million, a PE ratio of -4.49, a PEG ratio of 0.37 and a beta of 1.74. The firm has a fifty day moving average price of $5.05 and a two-hundred day moving average price of $5.34. ACCO Brands has a twelve month low of $4.30 and a twelve month high of $6.44. 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 (NYSE:ACCO - Get Free Report) last released its earnings results on Thursday, February 20th. The industrial products company reported $0.39 earnings per share 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 for the quarter, compared to analyst estimates of $455.06 million. Sell-side analysts anticipate that ACCO Brands will post 1.02 EPS for the current year.

Hedge Funds Weigh In On ACCO Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in ACCO Brands by 127.8% during the 4th quarter. Millennium Management LLC now owns 1,532,460 shares of the industrial products company's stock worth $8,045,000 after acquiring an additional 859,787 shares during the last quarter. American Century Companies Inc. boosted its stake in ACCO Brands by 37.4% in the fourth quarter. American Century Companies Inc. now owns 2,067,924 shares of the industrial products company's stock worth $10,857,000 after purchasing an additional 562,985 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of ACCO Brands by 663.4% during the fourth quarter. Alliancebernstein L.P. now owns 410,236 shares of the industrial products company's stock worth $2,154,000 after purchasing an additional 356,500 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of ACCO Brands during the fourth quarter worth $1,764,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of ACCO Brands by 135.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 577,039 shares of the industrial products company's stock valued at $3,029,000 after buying an additional 331,537 shares during the last quarter. 84.56% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Remove Ads