ACCO Brands (NYSE:ACCO) Upgraded at StockNews.com

ACCO Brands (NYSE:ACCO) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Separately, Barrington Research dropped their price target 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 Stock Performance

Shares of ACCO Brands stock opened at $4.70 on Friday. The stock has a market capitalization of $449.32 million, a price-to-earnings ratio of -17.41, a price-to-earnings-growth ratio of 0.38 and a beta of 1.63. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.69 and a quick ratio of 0.95. The business has a 50-day moving average of $4.96 and a 200 day moving average of $5.52. ACCO Brands has a 12 month low of $4.62 and a 12 month high of $6.62.

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

Insider Activity

In other ACCO Brands news, SVP Angela Y. Jones sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were 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 in the company, valued at approximately $92,360.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.30% of the company’s stock.

Institutional Trading of ACCO Brands

Hedge funds and other institutional investors have recently bought and sold shares of the business. New York State Teachers Retirement System purchased a new position in shares of ACCO Brands in the 4th quarter valued at about $50,000. MQS Management LLC purchased a new position in ACCO Brands in the third quarter valued at approximately $66,000. Innealta Capital LLC purchased a new position in ACCO Brands in the first quarter valued at approximately $65,000. Gladius Capital Management LP acquired a new stake in ACCO Brands during the fourth quarter worth approximately $73,000. Finally, SG Americas Securities LLC purchased a new stake in shares of ACCO Brands during the 1st quarter worth approximately $71,000. 84.56% of the stock is currently owned by institutional investors and hedge funds.

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.