Zacks Investment Research Lowers ACCO Brands (ACCO) to Hold

Zacks Investment Research downgraded shares of ACCO Brands (NYSE:ACCO) from a buy rating to a hold rating in a report issued on Tuesday.

According to Zacks, “ACCO Brands Corporation is a world leader in branded office products. Its industry-leading brands include Swingline, Kensington, Wilson Jones, Quartet, GBC, and Day-Timer, among others. Under the GBC brand, the Company is also a leader in the professional printing market. “

ACCO has been the topic of a number of other reports. SunTrust Banks restated a hold rating and set a $13.00 price target on shares of ACCO Brands in a research note on Wednesday, November 1st. BidaskClub upgraded shares of ACCO Brands from a sell rating to a hold rating in a research note on Monday, September 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $15.00.

Shares of ACCO Brands (NYSE ACCO) opened at $12.30 on Tuesday. The company has a market cap of $1,294.59, a P/E ratio of 21.21, a P/E/G ratio of 0.99 and a beta of 1.50. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.09 and a current ratio of 1.70. ACCO Brands has a 52 week low of $10.35 and a 52 week high of $14.75.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings results on Monday, October 30th. The industrial products company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. The company had revenue of $532.20 million for the quarter, compared to analysts’ expectations of $529.65 million. ACCO Brands had a net margin of 3.51% and a return on equity of 15.99%. ACCO Brands’s revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 EPS. research analysts predict that ACCO Brands will post 1.15 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in ACCO Brands by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 9,716,711 shares of the industrial products company’s stock worth $113,200,000 after purchasing an additional 50,566 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in ACCO Brands by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,193,361 shares of the industrial products company’s stock worth $107,102,000 after purchasing an additional 108,304 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in ACCO Brands by 1.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,126,210 shares of the industrial products company’s stock worth $83,019,000 after purchasing an additional 89,746 shares in the last quarter. Royal Bank of Canada lifted its stake in ACCO Brands by 5.9% in the 2nd quarter. Royal Bank of Canada now owns 6,122,124 shares of the industrial products company’s stock worth $71,323,000 after purchasing an additional 339,057 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in ACCO Brands by 9.5% in the 2nd quarter. Northern Trust Corp now owns 2,428,165 shares of the industrial products company’s stock worth $28,288,000 after purchasing an additional 210,786 shares in the last quarter. Institutional investors and hedge funds own 91.17% of the company’s stock.

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About ACCO Brands

ACCO Brands Corporation is engaged in designing, marketing and manufacturing of branded business, academic and selected consumer products. The Company operates through three segments: ACCO Brands North America, ACCO Brands International and Computer Products Group. The Company’s brands include Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Kensington, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra and Wilson Jones.

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