ACCO Brands (ACCO) Rating Lowered to Hold at Zacks Investment Research

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.

ACCO Brands (NYSE ACCO) opened at $11.15 on Wednesday. ACCO Brands has a 12 month low of $10.35 and a 12 month high of $14.75. The company has a market capitalization of $1,198.70, a price-to-earnings ratio of 11.03, a PEG ratio of 0.90 and a beta of 1.34. The company has a quick ratio of 1.09, a current ratio of 1.70 and a debt-to-equity ratio of 1.39.

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.

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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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