ACCO Brands (ACCO) Rating Increased to Hold at Zacks Investment Research

ACCO Brands (NYSE:ACCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “ACCO Brands Corporation is a world leader in branded office products. Its industry-leading brands include Swingline, Kensington, Wilson Jones, Quartet, GBC, and Day-Timer, among others. Under the GBC brand, the Company is also a leader in the professional printing market. “

ACCO has been the topic of a number of other research reports. ValuEngine lowered ACCO Brands from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. Noble Financial reiterated a “buy” rating and issued a $15.00 target price on shares of ACCO Brands in a research note on Monday, August 6th. Finally, Barrington Research reiterated a “buy” rating and issued a $16.00 target price on shares of ACCO Brands in a research note on Thursday, June 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $15.40.

ACCO traded up $0.19 during trading on Monday, reaching $10.93. The company had a trading volume of 21,607 shares, compared to its average volume of 499,083. The company has a market cap of $1.21 billion, a PE ratio of 9.18, a P/E/G ratio of 0.85 and a beta of 1.21. ACCO Brands has a 52 week low of $10.63 and a 52 week high of $14.63. The company has a quick ratio of 1.15, a current ratio of 1.74 and a debt-to-equity ratio of 1.35.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The company had revenue of $498.80 million during the quarter, compared to the consensus estimate of $493.85 million. ACCO Brands had a return on equity of 17.95% and a net margin of 7.02%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. As a group, research analysts anticipate that ACCO Brands will post 1.34 earnings per share for the current fiscal year.

In other ACCO Brands news, SVP Gregory J. Mccormack sold 15,678 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $12.42, for a total value of $194,720.76. Following the sale, the senior vice president now owns 81,079 shares in the company, valued at $1,007,001.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. United Services Automobile Association increased its stake in shares of ACCO Brands by 25.8% during the second quarter. United Services Automobile Association now owns 1,276,938 shares of the industrial products company’s stock valued at $17,686,000 after buying an additional 261,490 shares during the period. Northern Trust Corp increased its stake in shares of ACCO Brands by 5.5% during the second quarter. Northern Trust Corp now owns 2,510,775 shares of the industrial products company’s stock valued at $34,775,000 after buying an additional 131,036 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of ACCO Brands by 91.7% during the second quarter. Public Employees Retirement System of Ohio now owns 94,673 shares of the industrial products company’s stock valued at $1,311,000 after buying an additional 45,277 shares during the period. California Public Employees Retirement System increased its stake in shares of ACCO Brands by 16.4% during the second quarter. California Public Employees Retirement System now owns 278,516 shares of the industrial products company’s stock valued at $3,857,000 after buying an additional 39,195 shares during the period. Finally, Zebra Capital Management LLC increased its stake in shares of ACCO Brands by 30.7% during the second quarter. Zebra Capital Management LLC now owns 78,784 shares of the industrial products company’s stock valued at $1,091,000 after buying an additional 18,488 shares during the period. Institutional investors and hedge funds own 89.54% of the company’s stock.

About ACCO Brands

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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