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

ACCO Brands (NYSE:ACCO) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

Separately, Barrington Research cut their target price on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating for the company in a research note on Thursday, June 6th.

ACCO Brands Price Performance

NYSE:ACCO opened at $4.70 on Friday. ACCO Brands has a 52-week low of $4.62 and a 52-week high of $6.62. The company has a market cap of $449.32 million, a P/E ratio of -17.41, a P/E/G ratio of 0.38 and a beta of 1.63. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.69. The stock’s 50-day simple moving average is $4.96 and its 200 day simple moving average is $5.52.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Friday, May 3rd. The industrial products company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $358.90 million for the quarter, compared to analyst estimates of $371.80 million. ACCO Brands had a positive return on equity of 12.42% and a negative net margin of 1.36%. During the same quarter in the previous year, the firm earned $0.09 EPS. The business’s quarterly revenue was down 10.9% on a year-over-year basis. As a group, sell-side analysts forecast that ACCO Brands will post 1.04 EPS for the current fiscal year.

Insider Buying and Selling

In other ACCO Brands news, SVP Angela Y. Jones sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $4.96, for a total transaction of $74,400.00. Following the completion of the transaction, the senior vice president now owns 18,621 shares of the company’s stock, valued at $92,360.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of ACCO Brands by 6.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,353,607 shares of the industrial products company’s stock valued at $13,510,000 after acquiring an additional 147,196 shares in the last quarter. WINTON GROUP Ltd lifted its stake in shares of ACCO Brands by 15.1% during the 3rd quarter. WINTON GROUP Ltd now owns 17,172 shares of the industrial products company’s stock valued at $99,000 after buying an additional 2,255 shares in the last quarter. Aigen Investment Management LP grew its stake in ACCO Brands by 31.9% in the 3rd quarter. Aigen Investment Management LP now owns 44,389 shares of the industrial products company’s stock valued at $255,000 after buying an additional 10,729 shares in the last quarter. Brandywine Global Investment Management LLC raised its holdings in ACCO Brands by 11.7% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 301,017 shares of the industrial products company’s stock valued at $1,728,000 after acquiring an additional 31,559 shares during the period. Finally, Algert Global LLC purchased a new stake in shares of ACCO Brands during the third quarter worth $1,628,000. 84.56% of the stock is 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.