StockNews.com Upgrades ACCO Brands (NYSE:ACCO) to Strong-Buy

ACCO Brands (NYSE:ACCO) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Separately, Barrington Research upped their price objective on ACCO Brands from $7.00 to $7.50 and gave the stock an “outperform” rating in a research note on Friday, November 22nd.

ACCO Brands Stock Performance

Shares of ACCO stock opened at $5.89 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38. The company has a 50 day moving average price of $5.62 and a 200-day moving average price of $5.23. ACCO Brands has a 52 week low of $4.36 and a 52 week high of $6.62. The firm has a market capitalization of $547.06 million, a PE ratio of -3.12, a P/E/G ratio of 0.48 and a beta of 1.67.

ACCO Brands (NYSE:ACCO) last announced its earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The business had revenue of $420.90 million for the quarter, compared to analysts’ expectations of $418.20 million. ACCO Brands had a positive return on equity of 14.30% and a negative net margin of 10.64%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the firm posted $0.24 earnings per share. As a group, equities research analysts expect that ACCO Brands will post 1.04 earnings per share for the current year.

Institutional Investors Weigh In On ACCO Brands

Several institutional investors and hedge funds have recently modified their holdings of ACCO. Comerica Bank lifted its holdings in shares of ACCO Brands by 99,188.6% in the 1st quarter. Comerica Bank now owns 43,687 shares of the industrial products company’s stock valued at $245,000 after acquiring an additional 43,643 shares during the last quarter. CWM LLC increased its position in ACCO Brands by 423.9% during the second quarter. CWM LLC now owns 19,064 shares of the industrial products company’s stock valued at $90,000 after acquiring an additional 15,425 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in shares of ACCO Brands by 5.1% in the second quarter. Wedge Capital Management L L P NC now owns 177,017 shares of the industrial products company’s stock valued at $832,000 after acquiring an additional 8,633 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of ACCO Brands by 160.6% in the second quarter. Assenagon Asset Management S.A. now owns 819,268 shares of the industrial products company’s stock valued at $3,851,000 after acquiring an additional 504,876 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of ACCO Brands by 841.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 16,232 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 14,507 shares during the last quarter. Institutional investors own 84.56% of the company’s stock.

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.