Zacks Investment Research downgraded shares of ACCO Brands (NYSE:ACCO) from a buy rating to a hold rating in a report published on Wednesday.
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. “
Other research analysts have also recently issued reports about the company. BidaskClub raised ACCO Brands from a hold rating to a buy rating in a research report on Friday, October 13th. SunTrust Banks reaffirmed a hold rating and set a $13.00 target price on shares of ACCO Brands in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. ACCO Brands presently has a consensus rating of Buy and a consensus price target of $15.00.
Large investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale raised its position in ACCO Brands by 78.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,112 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 4,002 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in ACCO Brands by 12.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,496 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 1,014 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in ACCO Brands during the 3rd quarter worth $120,000. Hotchkis & Wiley Capital Management LLC bought a new position in ACCO Brands during the 3rd quarter worth $136,000. Finally, Oppenheimer Asset Management Inc. raised its position in ACCO Brands by 92.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 12,390 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 5,938 shares during the last quarter. 91.34% of the stock is owned by institutional investors and hedge funds.
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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