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

StockNews.com upgraded shares of ACCO Brands (NYSE:ACCO) from a hold rating to a buy rating in a research note released on Wednesday morning.

Separately, Barrington Research cut their target price on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th.

ACCO Brands Price Performance

NYSE ACCO opened at $4.53 on Wednesday. The company has a market cap of $420.29 million, a PE ratio of -4.27, a PEG ratio of 0.37 and a beta of 1.74. ACCO Brands has a 1 year low of $4.30 and a 1 year high of $6.44. The company has a current ratio of 1.60, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. The stock’s 50-day moving average price is $5.04 and its two-hundred day moving average price is $5.33.

ACCO Brands (NYSE:ACCO) last announced its earnings results on Thursday, February 20th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The company 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%. On average, analysts predict that ACCO Brands will post 1.02 EPS for the current year.

ACCO Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a $0.075 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 6.63%. ACCO Brands’s dividend payout ratio is presently -28.30%.

Institutional Trading of ACCO Brands

A number of hedge funds have recently bought and sold shares of the business. FMR LLC raised its stake in shares of ACCO Brands by 123.0% in the third quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock valued at $32,000 after buying an additional 3,260 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of ACCO Brands in the third quarter valued at $61,000. Y Intercept Hong Kong Ltd bought a new stake in shares of ACCO Brands in the third quarter valued at $63,000. Burns Matteson Capital Management LLC bought a new stake in shares of ACCO Brands in the fourth quarter valued at $61,000. Finally, Xponance Inc. bought a new stake in shares of ACCO Brands in the fourth quarter valued at $65,000. 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.