Acco Brands Corporation (ACCO) Earns Hold Rating from SunTrust Banks, Inc.

Acco Brands Corporation (NYSE:ACCO)‘s stock had its “hold” rating reaffirmed by investment analysts at SunTrust Banks, Inc. in a research report issued on Wednesday. They presently have a $13.00 price target on the industrial products company’s stock. SunTrust Banks, Inc.’s price objective suggests a potential downside of 0.38% from the stock’s previous close.

A number of other research analysts have also recently weighed in on ACCO. Zacks Investment Research raised shares of Acco Brands Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Tuesday. BidaskClub raised shares of Acco Brands Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 8th. ValuEngine raised shares of Acco Brands Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, BWS Financial reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Acco Brands Corporation in a report on Tuesday, July 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $15.33.

Shares of Acco Brands Corporation (NYSE ACCO) traded down 2.107% during midday trading on Wednesday, reaching $12.775. The company’s stock had a trading volume of 412,671 shares. The firm has a market capitalization of $1.39 billion, a P/E ratio of 25.448 and a beta of 1.40. The stock has a 50-day moving average of $12.35 and a 200 day moving average of $11.95. Acco Brands Corporation has a 12-month low of $10.35 and a 12-month high of $14.75.

Acco Brands Corporation (NYSE:ACCO) last posted its earnings results on Monday, October 30th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Acco Brands Corporation had a net margin of 3.51% and a return on equity of 16.03%. The company had revenue of $532.20 million during the quarter, compared to the consensus estimate of $529.65 million. During the same period in the previous year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was up 23.4% on a year-over-year basis. Equities research analysts predict that Acco Brands Corporation will post $1.13 EPS for the current fiscal year.

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In related news, VP Neal V. Fenwick bought 12,313 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average price of $10.60 per share, with a total value of $130,517.80. Following the completion of the purchase, the vice president now directly owns 423,311 shares of the company’s stock, valued at $4,487,096.60. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gregory J. Mccormack sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $10.95, for a total transaction of $273,750.00. Following the sale, the insider now directly owns 63,889 shares of the company’s stock, valued at approximately $699,584.55. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Parametrica Management Ltd purchased a new stake in shares of Acco Brands Corporation during the third quarter worth about $476,000. Victory Capital Management Inc. increased its stake in shares of Acco Brands Corporation by 53.9% during the third quarter. Victory Capital Management Inc. now owns 14,714 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 5,156 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Acco Brands Corporation by 22.9% during the third quarter. First Trust Advisors LP now owns 213,107 shares of the industrial products company’s stock worth $2,536,000 after purchasing an additional 39,640 shares in the last quarter. Eqis Capital Management Inc. increased its stake in shares of Acco Brands Corporation by 37.2% during the third quarter. Eqis Capital Management Inc. now owns 21,931 shares of the industrial products company’s stock worth $261,000 after purchasing an additional 5,945 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Acco Brands Corporation by 25.5% during the second quarter. Dynamic Technology Lab Private Ltd now owns 12,658 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 2,571 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

About Acco Brands Corporation

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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