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

StockNews.com upgraded shares of ACCO Brands (NYSE:ACCOFree Report) 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.

View Our Latest Stock Analysis on ACCO Brands

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:ACCOGet Free Report) 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

(Get Free Report)

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.

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