ACCO Brands (NYSE:ACCO) Lowered to “Buy” Rating by StockNews.com

ACCO Brands (NYSE:ACCO) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.

Separately, Barrington Research lifted their price target on ACCO Brands from $7.00 to $7.50 and gave the stock an “outperform” rating in a report on Friday, November 22nd.

ACCO Brands Stock Performance

NYSE ACCO opened at $5.30 on Friday. The company has a fifty day moving average price of $5.65 and a 200-day moving average price of $5.24. The firm has a market cap of $492.27 million, a price-to-earnings ratio of -2.80, a PEG ratio of 0.48 and a beta of 1.67. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94. ACCO Brands has a 1 year low of $4.36 and a 1 year high of $6.62.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $0.23 earnings per share (EPS) 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 business had revenue of $420.90 million during the quarter, compared to the consensus estimate of $418.20 million. During the same period in the prior year, the firm posted $0.24 EPS. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, equities research analysts predict that ACCO Brands will post 1.04 EPS for the current fiscal year.

Institutional Trading of ACCO Brands

Hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC boosted its holdings in ACCO Brands by 15.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 98,646 shares of the industrial products company’s stock worth $574,000 after buying an additional 13,335 shares during the period. Virtu Financial LLC bought a new position in shares of ACCO Brands in the third quarter worth $188,000. Barclays PLC boosted its holdings in shares of ACCO Brands by 285.3% in the third quarter. Barclays PLC now owns 148,302 shares of the industrial products company’s stock worth $810,000 after acquiring an additional 109,813 shares during the period. Arete Wealth Advisors LLC grew its position in shares of ACCO Brands by 30.5% in the third quarter. Arete Wealth Advisors LLC now owns 46,161 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 10,801 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of ACCO Brands by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,166,912 shares of the industrial products company’s stock valued at $11,855,000 after purchasing an additional 53,490 shares during the period. 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.