Barrington Research Reiterates Outperform Rating for ACCO Brands (NYSE:ACCO)

ACCO Brands (NYSE:ACCO)‘s stock had its “outperform” rating reissued by analysts at Barrington Research in a research report issued on Wednesday, Benzinga reports. They currently have a $7.00 price objective on the industrial products company’s stock. Barrington Research’s price objective points to a potential upside of 31.58% from the company’s previous close. Barrington Research also issued estimates for ACCO Brands’ Q3 2024 earnings at $0.22 EPS, Q4 2024 earnings at $0.42 EPS and FY2025 earnings at $1.08 EPS.

Separately, StockNews.com raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th.

ACCO Brands Stock Performance

NYSE ACCO opened at $5.32 on Wednesday. The company’s 50 day moving average is $4.96 and its 200-day moving average is $5.11. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 1.49. The firm has a market cap of $508.59 million, a P/E ratio of -19.70, a price-to-earnings-growth ratio of 0.44 and a beta of 1.62. ACCO Brands has a 12-month low of $4.36 and a 12-month high of $6.62.

ACCO Brands (NYSE:ACCO) last posted its earnings results on Thursday, August 1st. The industrial products company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $438.30 million for the quarter, compared to analyst estimates of $452.73 million. ACCO Brands had a negative net margin of 10.15% and a positive return on equity of 13.32%. ACCO Brands’s revenue was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 EPS. Sell-side analysts predict that ACCO Brands will post 1.04 earnings per share for the current year.

Insider Activity

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total transaction of $104,838.02. Following the completion of the sale, the senior vice president now owns 243,899 shares of the company’s stock, valued at approximately $1,334,127.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACCO Brands

Several institutional investors and hedge funds have recently modified their holdings of ACCO. Capital Management Corp VA increased its stake in shares of ACCO Brands by 286.7% in the 1st quarter. Capital Management Corp VA now owns 2,430,785 shares of the industrial products company’s stock worth $13,637,000 after acquiring an additional 1,802,250 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of ACCO Brands in the second quarter worth approximately $4,588,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of ACCO Brands by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock worth $32,381,000 after buying an additional 706,291 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of ACCO Brands by 116.1% in the second quarter. Millennium Management LLC now owns 1,173,755 shares of the industrial products company’s stock worth $5,517,000 after buying an additional 630,663 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of ACCO Brands by 113.0% in the second quarter. American Century Companies Inc. now owns 1,063,997 shares of the industrial products company’s stock worth $5,001,000 after buying an additional 564,406 shares during the last quarter. 84.56% of the stock is owned by hedge funds and other 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.