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

ACCO Brands (NYSE:ACCO) had its price target upped by analysts at Barrington Research from $7.00 to $7.50 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Barrington Research’s price objective points to 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 research note on Saturday, August 10th.

ACCO Brands Trading Up 2.6 %

ACCO traded up $0.15 on Friday, hitting $5.82. The company had a trading volume of 499,671 shares, compared to its average volume of 626,301. The company has a market cap of $540.57 million, a PE ratio of -3.09, a PEG 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. The business’s fifty day simple moving average is $5.40 and its 200 day simple moving average is $5.12. ACCO Brands has a 12-month low of $4.36 and a 12-month high of $6.62.

ACCO Brands (NYSE:ACCO) last posted its earnings results on Thursday, October 31st. The industrial products company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $418.20 million. During the same quarter last year, the firm posted $0.24 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities research analysts expect that ACCO Brands will post 1.04 EPS for the current year.

Insider Activity

In other news, SVP Pamela R. Schneider sold 19,166 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $5.47, for a total value of $104,838.02. Following the sale, the senior vice president now directly owns 243,899 shares in the company, valued at approximately $1,334,127.53. This trade represents a 7.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On ACCO Brands

Several hedge funds and other institutional investors have recently bought and sold shares of ACCO. O Shaughnessy Asset Management LLC purchased a new position in ACCO Brands during the 1st quarter worth $810,000. Caxton Associates LP increased its stake in shares of ACCO Brands by 421.5% during the first quarter. Caxton Associates LP now owns 150,115 shares of the industrial products company’s stock worth $842,000 after acquiring an additional 121,331 shares during the period. Foundry Partners LLC lifted its holdings in ACCO Brands by 15.7% in the third quarter. Foundry Partners LLC now owns 765,851 shares of the industrial products company’s stock valued at $4,189,000 after acquiring an additional 104,160 shares during the period. Bank of Montreal Can purchased a new stake in shares of ACCO Brands during the 2nd quarter worth approximately $4,588,000. Finally, Capital Management Corp VA grew its holdings in ACCO Brands by 14.3% in the third quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock valued at $19,288,000 after purchasing an additional 439,810 shares during the last quarter. 84.56% of the stock is currently 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.