Barrington Research Increases ACCO Brands (NYSE:ACCO) Price Target to $7.50

ACCO Brands (NYSE:ACCO) had its price target boosted by stock analysts at Barrington Research from $7.00 to $7.50 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Barrington Research’s target price suggests a potential upside of 28.87% from the company’s previous close.

Separately, StockNews.com upgraded ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th.

ACCO Brands Trading Up 2.6 %

Shares of NYSE:ACCO traded up $0.15 during midday trading on Friday, reaching $5.82. The company’s stock had a trading volume of 499,671 shares, compared to its average volume of 626,301. The business has a 50 day moving average price of $5.40 and a 200 day moving average price of $5.12. ACCO Brands has a 1 year low of $4.36 and a 1 year high of $6.62. The firm has a market cap of $540.57 million, a price-to-earnings ratio of -3.09, a price-to-earnings-growth ratio of 0.46 and a beta of 1.63. 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 earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. ACCO Brands had a negative net margin of 10.64% and a positive return on equity of 14.30%. The business had revenue of $420.90 million for the quarter, compared to analysts’ expectations of $418.20 million. During the same period last year, the company earned $0.24 earnings per share. The company’s quarterly revenue was down 6.0% on a year-over-year basis. Research analysts forecast that ACCO Brands will post 1.04 EPS for the current year.

Insider Buying and Selling

In other news, SVP Pamela R. Schneider sold 19,166 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total transaction of $104,838.02. Following the completion of the sale, the senior vice president now directly owns 243,899 shares in the company, valued at $1,334,127.53. This trade represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of ACCO Brands by 123.0% in the 3rd quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock valued at $32,000 after buying an additional 3,260 shares during the period. nVerses Capital LLC increased its holdings in shares of ACCO Brands by 68.3% during the third quarter. nVerses Capital LLC now owns 6,900 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 2,800 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of ACCO Brands during the third quarter valued at about $61,000. Y Intercept Hong Kong Ltd bought a new position in ACCO Brands in the 3rd quarter valued at about $63,000. Finally, Innealta Capital LLC acquired a new position in ACCO Brands during the 1st quarter valued at about $65,000. 84.56% of the stock is owned by institutional investors and hedge funds.

About ACCO Brands

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.