ACCO Brands (NYSE:ACCO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $15.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 9.89% from the company’s current price.
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. “
Separately, SunTrust Banks reaffirmed a “hold” rating and issued a $13.00 price objective on shares of ACCO Brands in a report on Wednesday, November 1st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $15.33.
ACCO Brands (NYSE:ACCO) opened at $13.65 on Friday. The company has a market cap of $1,465.08, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.02 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. ACCO Brands has a 1-year low of $10.35 and a 1-year high of $14.75.
ACCO Brands (NYSE:ACCO) last released its quarterly earnings data on Wednesday, February 14th. The industrial products company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The firm had revenue of $566.80 million during the quarter, compared to the consensus estimate of $563.27 million. ACCO Brands had a net margin of 6.76% and a return on equity of 18.31%. The firm’s revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. equities analysts forecast that ACCO Brands will post 1.35 EPS for the current year.
ACCO Brands declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 14th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
Institutional investors and hedge funds have recently made changes to their positions in the company. Eqis Capital Management Inc. boosted its holdings in shares of ACCO Brands by 37.2% during the third quarter. Eqis Capital Management Inc. now owns 21,931 shares of the industrial products company’s stock valued at $261,000 after acquiring an additional 5,945 shares during the period. Vanguard Group Inc. boosted its holdings in shares of ACCO Brands by 0.5% during the second quarter. Vanguard Group Inc. now owns 9,716,711 shares of the industrial products company’s stock valued at $113,200,000 after acquiring an additional 50,566 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of ACCO Brands by 81.7% during the third quarter. GSA Capital Partners LLP now owns 76,335 shares of the industrial products company’s stock valued at $908,000 after acquiring an additional 34,321 shares during the period. IndexIQ Advisors LLC boosted its holdings in shares of ACCO Brands by 83.1% during the third quarter. IndexIQ Advisors LLC now owns 65,910 shares of the industrial products company’s stock valued at $784,000 after acquiring an additional 29,907 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of ACCO Brands by 16.6% during the third quarter. Russell Investments Group Ltd. now owns 1,268,126 shares of the industrial products company’s stock valued at $15,089,000 after acquiring an additional 180,698 shares during the period. 91.98% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: This story was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another publication, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The correct version of this story can be read at https://www.dispatchtribunal.com/2018/02/18/acco-brands-acco-lifted-to-buy-at-zacks-investment-research.html.
ACCO Brands Company Profile
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.
Get a free copy of the Zacks research report on ACCO Brands (ACCO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ACCO Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACCO Brands and related companies with MarketBeat.com's FREE daily email newsletter.