ACCO Brands (NYSE:ACCO) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of ACCO Brands (NYSE:ACCO) from a hold rating to a buy rating in a report published on Wednesday morning.

Separately, Barrington Research dropped their target price on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating for the company in a research note on Tuesday, February 25th.

ACCO Brands Stock Performance

NYSE ACCO opened at $3.87 on Wednesday. ACCO Brands has a fifty-two week low of $3.41 and a fifty-two week high of $6.44. The stock has a market cap of $348.68 million, a price-to-earnings ratio of -3.65, a price-to-earnings-growth ratio of 0.37 and a beta of 1.36. The business has a fifty day moving average of $3.98 and a 200-day moving average of $4.90. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38.

ACCO Brands (NYSE:ACCO) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. ACCO Brands had a positive return on equity of 14.96% and a negative net margin of 6.10%. The company had revenue of $317.40 million during the quarter, compared to analysts’ expectations of $318.75 million. As a group, analysts predict that ACCO Brands will post 1.02 earnings per share for the current fiscal year.

ACCO Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Friday, May 23rd will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $0.30 annualized dividend and a yield of 7.75%. ACCO Brands’s payout ratio is currently -26.55%.

Institutional Investors Weigh In On ACCO Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACCO. Burns Matteson Capital Management LLC acquired a new stake in ACCO Brands during the fourth quarter worth about $61,000. Xponance Inc. acquired a new stake in ACCO Brands during the fourth quarter worth about $65,000. Cambridge Investment Research Advisors Inc. increased its stake in ACCO Brands by 25.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,322 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 3,276 shares during the last quarter. Somerset Trust Co increased its stake in ACCO Brands by 22.1% during the fourth quarter. Somerset Trust Co now owns 15,067 shares of the industrial products company’s stock worth $79,000 after acquiring an additional 2,724 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in ACCO Brands during the fourth quarter worth about $82,000. 84.56% of the stock is currently owned by institutional investors and hedge funds.

ACCO Brands Company Profile

ACCO Brands Corporation designs, manufactures, and markets consumer, school, technology, and office products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company provides computer and gaming accessories, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; sheet protectors and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.