ACCO Brands Corporation (ACCO) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of ACCO Brands Corporation (NYSE:ACCO) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The firm currently has $15.00 target price on the industrial products company’s stock.

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. “

Several other equities analysts also recently issued reports on ACCO. BidaskClub upgraded shares of ACCO Brands Corporation from a strong sell rating to a sell rating in a report on Tuesday, August 8th. ValuEngine upgraded shares of ACCO Brands Corporation from a hold rating to a buy rating in a report on Wednesday, August 2nd. Finally, BWS Financial restated a buy rating and set a $18.00 price objective on shares of ACCO Brands Corporation in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $15.33.

Shares of ACCO Brands Corporation (NYSE:ACCO) opened at $12.85 on Tuesday. The company has a market capitalization of $1.37 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.11 and a beta of 1.52. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.70 and a quick ratio of 1.14. ACCO Brands Corporation has a 52-week low of $10.35 and a 52-week high of $14.75.

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

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In related news, insider Gregory J. Mccormack sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $10.95, for a total value of $273,750.00. Following the sale, the insider now owns 63,889 shares in the company, valued at $699,584.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.50% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Eqis Capital Management Inc. boosted its position in ACCO Brands Corporation by 37.2% in the 3rd 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. JPMorgan Chase & Co. boosted its position in ACCO Brands Corporation 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. American Century Companies Inc. boosted its position in ACCO Brands Corporation by 2.9% in the 2nd quarter. American Century Companies Inc. now owns 441,934 shares of the industrial products company’s stock worth $5,149,000 after purchasing an additional 12,322 shares in the last quarter. Bank of America Corp DE boosted its position in ACCO Brands Corporation by 22.0% in the 1st quarter. Bank of America Corp DE now owns 397,823 shares of the industrial products company’s stock worth $5,232,000 after purchasing an additional 71,696 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in ACCO Brands Corporation by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 9,666,145 shares of the industrial products company’s stock worth $127,109,000 after purchasing an additional 174,498 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

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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