Acco Brands Corporation (ACCO) Lifted to “Hold” at BidaskClub
BidaskClub upgraded shares of Acco Brands Corporation (NYSE:ACCO) from a sell rating to a hold rating in a research note published on Monday.
A number of other equities analysts have also recently commented on ACCO. ValuEngine raised Acco Brands Corporation from a hold rating to a buy rating in a report on Wednesday, August 2nd. Zacks Investment Research raised Acco Brands Corporation from a hold rating to a buy rating and set a $12.00 target price on the stock in a report on Thursday, August 3rd. Finally, BWS Financial reaffirmed a buy rating and issued a $18.00 target price on shares of Acco Brands Corporation in a report on Tuesday, July 4th.
Shares of Acco Brands Corporation (NYSE:ACCO) opened at 11.50 on Monday. The company’s 50 day moving average price is $11.01 and its 200-day moving average price is $12.07. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 22.91 and a beta of 1.37. Acco Brands Corporation has a 1-year low of $9.06 and a 1-year high of $14.75.
Acco Brands Corporation (NYSE:ACCO) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.04. The firm had revenue of $490.00 million for the quarter, compared to the consensus estimate of $497.17 million. Acco Brands Corporation had a return on equity of 15.03% and a net margin of 3.25%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. On average, equities analysts forecast that Acco Brands Corporation will post $1.10 earnings per share for the current year.
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In related news, insider Gregory J. Mccormack sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $10.95, for a total value of $273,750.00. Following the transaction, the insider now directly owns 63,889 shares of the company’s stock, valued at approximately $699,584.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Neal V. Fenwick bought 12,313 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was bought at an average cost of $10.60 per share, for a total transaction of $130,517.80. Following the completion of the acquisition, the vice president now owns 423,311 shares in the company, valued at approximately $4,487,096.60. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in ACCO. American Century Companies Inc. raised its holdings in Acco Brands Corporation by 42.3% in the 1st quarter. American Century Companies Inc. now owns 429,612 shares of the industrial products company’s stock worth $5,649,000 after purchasing an additional 127,651 shares during the period. Bank of New York Mellon Corp raised its holdings in Acco Brands Corporation by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 835,159 shares of the industrial products company’s stock worth $10,983,000 after purchasing an additional 35,225 shares during the period. Suntrust Banks Inc. raised its holdings in Acco Brands Corporation by 0.3% in the 1st quarter. Suntrust Banks Inc. now owns 53,109 shares of the industrial products company’s stock worth $698,000 after purchasing an additional 153 shares during the period. Karp Capital Management Corp bought a new position in Acco Brands Corporation in the 1st quarter worth $419,000. Finally, Ameriprise Financial Inc. raised its holdings in Acco Brands Corporation by 0.4% in the 1st quarter. Ameriprise Financial Inc. now owns 768,809 shares of the industrial products company’s stock worth $10,110,000 after purchasing an additional 2,869 shares during the period. 91.14% of the stock is currently owned by institutional investors.
Acco Brands Corporation 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.
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