ACCO Brands (NYSE:ACCO) Upgraded by StockNews.com to Buy Rating

ACCO Brands (NYSE:ACCO) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

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

ACCO Brands Trading Up 2.5 %

Shares of ACCO stock opened at $4.51 on Friday. The business’s fifty day moving average price is $4.90 and its 200 day moving average price is $5.27. The firm has a market capitalization of $419.08 million, a PE ratio of -4.26, a P/E/G ratio of 0.37 and a beta of 1.74. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94. ACCO Brands has a 1-year low of $4.30 and a 1-year high of $6.44.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Thursday, February 20th. The industrial products company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The company had revenue of $448.10 million for 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%. As a group, sell-side analysts forecast that ACCO Brands will post 1.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in ACCO Brands during the 4th quarter valued at about $1,764,000. Mackenzie Financial Corp grew its position in shares of ACCO Brands by 132.6% in the fourth quarter. Mackenzie Financial Corp now owns 146,331 shares of the industrial products company’s stock valued at $768,000 after purchasing an additional 83,428 shares during the last quarter. PharVision Advisers LLC purchased a new position in shares of ACCO Brands during the 4th quarter worth approximately $438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of ACCO Brands by 25.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 345,511 shares of the industrial products company’s stock worth $1,814,000 after purchasing an additional 70,365 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of ACCO Brands by 2.6% during the 4th quarter. Two Sigma Advisers LP now owns 1,193,265 shares of the industrial products company’s stock worth $6,265,000 after purchasing an additional 30,800 shares during 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.