ACCO Brands (NYSE:ACCO) Given New $7.50 Price Target at Barrington Research

ACCO Brands (NYSE:ACCO) had its price target hoisted by Barrington Research from $7.00 to $7.50 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Barrington Research’s price objective would suggest a potential upside of 28.87% from the company’s current price.

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

ACCO Brands Stock Up 2.6 %

Shares of ACCO stock opened at $5.82 on Friday. ACCO Brands has a twelve month low of $4.36 and a twelve month high of $6.62. The company has a market capitalization of $540.56 million, a price-to-earnings ratio of -3.08, a PEG ratio of 0.45 and a beta of 1.63. 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 stock’s 50 day simple moving average is $5.41 and its 200 day simple moving average is $5.13.

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

Insider Activity

In other news, SVP Pamela R. Schneider sold 19,166 shares of ACCO Brands stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total value of $104,838.02. Following the completion of the transaction, the senior vice president now owns 243,899 shares in the company, valued at approximately $1,334,127.53. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 7.30% of the stock is owned by corporate insiders.

Institutional Trading of ACCO Brands

Several large investors have recently made changes to their positions in the business. EMC Capital Management boosted its position in ACCO Brands by 8.8% in the 1st quarter. EMC Capital Management now owns 31,083 shares of the industrial products company’s stock valued at $174,000 after buying an additional 2,509 shares during the last quarter. DMC Group LLC boosted its holdings in ACCO Brands by 10.7% in the third quarter. DMC Group LLC now owns 26,287 shares of the industrial products company’s stock valued at $144,000 after acquiring an additional 2,538 shares during the last quarter. Wedge Capital Management L L P NC increased its position in ACCO Brands by 1.6% in the third quarter. Wedge Capital Management L L P NC now owns 179,805 shares of the industrial products company’s stock worth $984,000 after purchasing an additional 2,788 shares during the period. nVerses Capital LLC lifted its position in ACCO Brands by 68.3% during the 3rd quarter. nVerses Capital LLC now owns 6,900 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 2,800 shares during the period. Finally, FMR LLC boosted its stake in shares of 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 purchasing an additional 3,260 shares during the last quarter. Institutional investors 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.