Acco Brands (NYSE:ACCO) Stock Rating Lowered by Wall Street Zen

Acco Brands (NYSE:ACCO) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Sunday, Wall Street Zen reports.

ACCO has been the subject of a number of other reports. Weiss Ratings raised shares of Acco Brands from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, November 2nd. Zacks Research upgraded shares of Acco Brands from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 2nd. Finally, Barrington Research set a $6.00 price objective on shares of Acco Brands in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $6.00.

Acco Brands Price Performance

Shares of ACCO opened at $5.25 on Friday. Acco Brands has a one year low of $2.81 and a one year high of $5.84. The stock’s fifty day moving average is $4.51 and its 200-day moving average is $4.00. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.22 and a current ratio of 1.89. The firm has a market capitalization of $485.25 million, a price-to-earnings ratio of 7.51, a price-to-earnings-growth ratio of 0.94 and a beta of 1.20.

Acco Brands (NYSE:ACCO) last posted its quarterly earnings data on Thursday, October 29th. The industrial products company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.09. The business had revenue of $380.30 million during the quarter, compared to the consensus estimate of $383.70 million. Acco Brands had a net margin of 4.23% and a return on equity of 13.48%. Equities analysts anticipate that Acco Brands will post 0.98 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Legal & General Group Plc acquired a new stake in Acco Brands in the 2nd quarter valued at about $37,000. Burns Matteson Capital Management LLC bought a new position in shares of Acco Brands during the 3rd quarter valued at about $52,000. Sequoia Financial Advisors LLC acquired a new position in shares of Acco Brands in the 1st quarter worth approximately $37,000. Brighton Jones LLC grew its stake in shares of Acco Brands by 19.4% in the 3rd quarter. Brighton Jones LLC now owns 13,183 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 2,145 shares during the last quarter. Finally, AXQ Capital LP acquired a new position in shares of Acco Brands in the 2nd quarter worth approximately $59,000. 84.56% of the stock is owned by institutional investors and hedge funds.

About Acco Brands

ACCO Brands Corporation is a global manufacturer and marketer of consumer and office products. Its portfolio includes supplies and equipment used in workplaces, schools and homes, as well as products designed to support organization, productivity and personal technology.

The company’s brands include Swingline, Kensington, Mead, Five Star, GBC, Quartet and Esselte. Its products include staplers, punches, shredders, laminators, binding systems, presentation supplies, notebooks, planners, backpacks, computer accessories and other workspace and school supplies.

ACCO Brands traces its history to the American Clip Company, founded in 1903.