ACCO Brands (NYSE:ACCO) Price Target Lowered to $7.00 at Barrington Research

ACCO Brands (NYSE:ACCO) had its price objective dropped by stock analysts at Barrington Research from $7.50 to $7.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Barrington Research’s target price suggests a potential upside of 53.07% from the company’s current price.

Separately, StockNews.com downgraded ACCO Brands from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th.

ACCO Brands Stock Performance

Shares of ACCO stock traded up $0.17 on Tuesday, hitting $4.57. 758,965 shares of the stock were exchanged, compared to its average volume of 722,578. The firm’s 50 day moving average is $5.22 and its two-hundred day moving average is $5.38. ACCO Brands has a one year low of $4.30 and a one year high of $6.43. The firm has a market capitalization of $424.74 million, a PE ratio of -4.29, a P/E/G ratio of 0.37 and a beta of 1.68. The company has a current ratio of 1.60, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38.

ACCO Brands (NYSE:ACCO) last issued its earnings results on Thursday, February 20th. The industrial products company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The business had revenue of $448.10 million for the quarter, compared to the consensus estimate of $455.06 million. ACCO Brands had a positive return on equity of 14.96% and a negative net margin of 6.10%. Sell-side analysts expect that ACCO Brands will post 1.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ACCO Brands

A number of large investors have recently modified their holdings of ACCO. Geode Capital Management LLC grew its position 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 in the last quarter. Foundry Partners LLC increased its stake in ACCO Brands by 15.7% in the 3rd quarter. Foundry Partners LLC now owns 765,851 shares of the industrial products company’s stock worth $4,189,000 after acquiring an additional 104,160 shares during the last quarter. Barclays PLC raised its holdings in shares of ACCO Brands by 285.3% in the 3rd quarter. Barclays PLC now owns 148,302 shares of the industrial products company’s stock valued at $810,000 after acquiring an additional 109,813 shares in the last quarter. Capital Management Corp VA boosted its position in shares of ACCO Brands by 14.3% during the 3rd quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock valued at $19,288,000 after acquiring an additional 439,810 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of ACCO Brands by 21.0% during the third quarter. HighTower Advisors LLC now owns 72,042 shares of the industrial products company’s stock worth $394,000 after purchasing an additional 12,508 shares in the last quarter. 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.