ACCO Brands (NYSE:ACCO) Price Target Raised to $7.50 at Barrington Research

ACCO Brands (NYSE:ACCO) had its price objective boosted by Barrington Research from $7.00 to $7.50 in a research note released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Separately, StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th.

ACCO Brands Stock Performance

NYSE ACCO opened at $5.96 on Friday. The company has a 50-day simple moving average of $5.43 and a two-hundred day simple moving average of $5.14. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38. ACCO Brands has a 12-month low of $4.36 and a 12-month high of $6.62. The firm has a market cap of $553.56 million, a price-to-earnings ratio of -3.15, a PEG ratio of 0.47 and a beta of 1.63.

ACCO Brands (NYSE:ACCO) last posted its earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. ACCO Brands had a negative net margin of 10.64% and a positive return on equity of 14.30%. The company had revenue of $420.90 million during the quarter, compared to analyst estimates of $418.20 million. During the same period in the prior year, the business posted $0.24 earnings per share. ACCO Brands’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, equities analysts forecast that ACCO Brands will post 1.04 EPS for the current year.

ACCO Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 15th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.30 dividend on an annualized basis and a yield of 5.03%. ACCO Brands’s dividend payout ratio is currently -15.87%.

Institutional Trading of ACCO Brands

Large investors have recently made changes to their positions in the business. FMR LLC boosted its stake in shares of ACCO Brands by 123.0% during the 3rd quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 3,260 shares during the period. nVerses Capital LLC increased its stake in ACCO Brands by 68.3% during the 3rd quarter. nVerses Capital LLC now owns 6,900 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 2,800 shares in the last quarter. Somerset Trust Co acquired a new position in ACCO Brands during the 2nd quarter valued at approximately $57,000. EP Wealth Advisors LLC purchased a new stake in shares of ACCO Brands in the 3rd quarter valued at $61,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of ACCO Brands in the 3rd quarter valued at $63,000. 84.56% of the stock is currently owned by 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.