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

ACCO Brands (NYSE:ACCO) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Separately, Barrington Research reduced their price objective on shares of ACCO Brands from $7.50 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th.

ACCO Brands Price Performance

Shares of ACCO stock opened at $4.57 on Thursday. ACCO Brands has a 52-week low of $4.30 and a 52-week high of $6.44. The stock has a market cap of $424.00 million, a PE ratio of -4.31, a PEG ratio of 0.37 and a beta of 1.74. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.60. The firm’s 50 day moving average price is $4.99 and its two-hundred day moving average price is $5.31.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data 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). ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. The business had revenue of $448.10 million during the quarter, compared to the consensus estimate of $455.06 million. As a group, analysts forecast that ACCO Brands will post 1.02 EPS for the current year.

Hedge Funds Weigh In On ACCO Brands

Several institutional investors and hedge funds have recently made changes to their positions in ACCO. Royce & Associates LP acquired a new position in shares of ACCO Brands in the 3rd quarter valued at $80,000. Intech Investment Management LLC acquired a new position in shares of ACCO Brands in the 3rd quarter valued at $98,000. Foundry Partners LLC grew its holdings in shares of ACCO Brands by 15.7% in the 3rd quarter. Foundry Partners LLC now owns 765,851 shares of the industrial products company’s stock valued at $4,189,000 after buying an additional 104,160 shares during the period. Algert Global LLC lifted its position in ACCO Brands by 7.4% in the 3rd quarter. Algert Global LLC now owns 323,538 shares of the industrial products company’s stock valued at $1,770,000 after acquiring an additional 22,308 shares in the last quarter. Finally, FMR LLC lifted its position in ACCO Brands by 123.0% in the 3rd quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 3,260 shares in the last quarter. Institutional investors and hedge funds own 84.56% of the company’s stock.

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.