StockNews.com Downgrades ACCO Brands (NYSE:ACCO) to Hold

ACCO Brands (NYSE:ACCO) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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

ACCO Brands Stock Performance

Shares of ACCO Brands stock opened at $4.36 on Thursday. The stock has a market cap of $404.50 million, a PE ratio of -4.11, a price-to-earnings-growth ratio of 0.37 and a beta of 1.74. The business has a fifty day simple moving average of $4.96 and a 200-day simple moving average of $5.29. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38. ACCO Brands has a 12 month low of $4.30 and a 12 month high of $6.44.

ACCO Brands (NYSE:ACCO) last issued its earnings results on Thursday, February 20th. The industrial products company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $448.10 million during the quarter, compared to analyst estimates 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, sell-side analysts anticipate that ACCO Brands will post 1.02 EPS for the current fiscal year.

Institutional Trading of ACCO Brands

Several hedge funds and other institutional investors have recently modified their holdings of the company. DMC Group LLC raised its holdings in shares of ACCO Brands by 9.5% during the fourth quarter. DMC Group LLC now owns 28,783 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 2,496 shares in the last quarter. Somerset Trust Co raised its holdings in shares of ACCO Brands by 22.1% during the fourth quarter. Somerset Trust Co now owns 15,067 shares of the industrial products company’s stock worth $79,000 after acquiring an additional 2,724 shares in the last quarter. FMR LLC raised its holdings in ACCO Brands by 123.0% during 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 in the last quarter. Nebula Research & Development LLC raised its holdings in ACCO Brands by 8.6% during the fourth quarter. Nebula Research & Development LLC now owns 59,572 shares of the industrial products company’s stock valued at $313,000 after buying an additional 4,732 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in ACCO Brands by 8.8% during the third quarter. XTX Topco Ltd now owns 58,905 shares of the industrial products company’s stock valued at $322,000 after buying an additional 4,781 shares in the last quarter. 84.56% of the stock is currently owned by hedge funds and other 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.