ACCO Brands (NYSE:ACCO) Lifted to “Buy” at StockNews.com

ACCO Brands (NYSE:ACCO) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $7.50 target price on shares of ACCO Brands in a report on Thursday, February 29th.

ACCO Brands Trading Down 3.6 %

Shares of NYSE ACCO opened at $4.97 on Thursday. ACCO Brands has a 1 year low of $4.64 and a 1 year high of $6.62. The stock has a market cap of $474.65 million, a P/E ratio of -18.30, a price-to-earnings-growth ratio of 0.41 and a beta of 1.63. The firm has a 50-day moving average of $5.07 and a 200 day moving average of $5.56. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.69 and a quick ratio of 0.95.

ACCO Brands (NYSE:ACCO) last issued its earnings results on Friday, May 3rd. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $358.90 million during the quarter, compared to analysts’ expectations of $371.80 million. ACCO Brands had a negative net margin of 1.36% and a positive return on equity of 12.42%. The business’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. As a group, sell-side analysts expect that ACCO Brands will post 1.07 EPS for the current fiscal year.

Insider Transactions at ACCO Brands

In other news, SVP Angela Y. Jones sold 15,000 shares of ACCO Brands stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $4.96, for a total value of $74,400.00. Following the completion of the sale, the senior vice president now directly owns 18,621 shares in the company, valued at $92,360.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.30% of the company’s stock.

Institutional Trading of ACCO Brands

Large investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System bought a new position in shares of ACCO Brands in the fourth quarter worth approximately $50,000. Innealta Capital LLC purchased a new position in shares of ACCO Brands in the first quarter worth $65,000. MQS Management LLC purchased a new position in shares of ACCO Brands in the third quarter worth $66,000. SG Americas Securities LLC purchased a new position in shares of ACCO Brands in the first quarter worth $71,000. Finally, Gladius Capital Management LP purchased a new position in shares of ACCO Brands in the fourth quarter worth $73,000. 84.56% of the stock is currently owned by institutional investors.

ACCO Brands Company Profile

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.