ACCO Brands (NYSE:ACCO) has been given a $13.00 target price by analysts at Barrington Research in a note issued to investors on Monday. The brokerage presently has a “buy” rating on the industrial products company’s stock. Barrington Research’s target price would indicate a potential upside of 51.16% from the company’s current price.
A number of other research analysts have also weighed in on the company. Zacks Investment Research lowered ACCO Brands from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. ValuEngine lowered ACCO Brands from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Finally, Noble Financial reaffirmed a “buy” rating and set a $15.00 price objective on shares of ACCO Brands in a report on Monday, August 6th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $15.25.
ACCO Brands stock opened at $8.60 on Monday. ACCO Brands has a 12 month low of $7.39 and a 12 month high of $14.63. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.63 and a quick ratio of 1.03. The company has a market cap of $919.52 million, a PE ratio of 7.23, a P/E/G ratio of 0.76 and a beta of 1.65.
ACCO Brands (NYSE:ACCO) last released its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). ACCO Brands had a return on equity of 17.38% and a net margin of 7.36%. The company had revenue of $507.30 million for the quarter, compared to analysts’ expectations of $533.26 million. During the same quarter last year, the company earned $0.35 EPS. ACCO Brands’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that ACCO Brands will post 1.17 EPS for the current fiscal year.
In other news, Chairman Boris Elisman bought 6,547 shares of the stock in a transaction on Wednesday, October 31st. The shares were bought at an average price of $7.72 per share, with a total value of $50,542.84. Following the completion of the acquisition, the chairman now owns 798,917 shares of the company’s stock, valued at $6,167,639.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Neal V. Fenwick bought 10,000 shares of the stock in a transaction on Wednesday, October 31st. The stock was purchased at an average cost of $8.06 per share, for a total transaction of $80,600.00. Following the acquisition, the vice president now directly owns 520,225 shares of the company’s stock, valued at approximately $4,193,013.50. The disclosure for this purchase can be found here. Insiders have purchased 19,647 shares of company stock worth $156,253 in the last ninety days. 4.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. acquired a new stake in ACCO Brands in the third quarter valued at $119,000. Meeder Asset Management Inc. grew its holdings in ACCO Brands by 710.7% in the third quarter. Meeder Asset Management Inc. now owns 11,050 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 9,687 shares during the last quarter. Sun Life Financial INC acquired a new stake in ACCO Brands in the second quarter valued at $140,000. Hartford Investment Management Co. acquired a new stake in ACCO Brands in the second quarter valued at $183,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in ACCO Brands by 27.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 24,958 shares of the industrial products company’s stock valued at $346,000 after purchasing an additional 5,380 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.
About ACCO Brands
ACCO Brands Corporation designs, manufactures, and markets, consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.
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