Acco Brands Corporation (ACCO) Rating Lowered to Hold at Zacks Investment Research
Acco Brands Corporation (NYSE:ACCO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “ACCO Brands Corporation is a world leader in branded office products. Its industry-leading brands include Swingline, Kensington, Wilson Jones, Quartet, GBC, and Day-Timer, among others. Under the GBC brand, the Company is also a leader in the professional printing market. “
Other analysts have also issued research reports about the company. BWS Financial reissued a “buy” rating and issued a $18.00 target price on shares of Acco Brands Corporation in a research report on Tuesday, July 4th. BidaskClub lowered Acco Brands Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Finally, ValuEngine raised Acco Brands Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd.
Acco Brands Corporation (NYSE:ACCO) traded down 1.15% on Tuesday, hitting $12.85. The stock had a trading volume of 595,446 shares. Acco Brands Corporation has a 12 month low of $9.06 and a 12 month high of $14.75. The firm’s 50 day moving average price is $11.74 and its 200-day moving average price is $11.98. The stock has a market cap of $1.40 billion, a PE ratio of 25.60 and a beta of 1.40.
Acco Brands Corporation (NYSE:ACCO) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The firm had revenue of $490.00 million for the quarter, compared to analyst estimates of $497.17 million. Acco Brands Corporation had a net margin of 3.25% and a return on equity of 15.03%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. On average, analysts forecast that Acco Brands Corporation will post $1.10 EPS for the current year.
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In other news, VP Neal V. Fenwick bought 12,313 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were bought at an average price of $10.60 per share, with a total value of $130,517.80. Following the completion of the transaction, the vice president now directly owns 423,311 shares in the company, valued at $4,487,096.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gregory J. Mccormack sold 25,000 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $10.95, for a total transaction of $273,750.00. Following the completion of the transaction, the insider now owns 63,889 shares of the company’s stock, valued at approximately $699,584.55. The disclosure for this sale can be found here. 4.50% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of Acco Brands Corporation by 1.3% in the second quarter. JPMorgan Chase & Co. now owns 7,126,210 shares of the industrial products company’s stock worth $83,019,000 after acquiring an additional 89,746 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Acco Brands Corporation by 2.9% in the second quarter. American Century Companies Inc. now owns 441,934 shares of the industrial products company’s stock worth $5,149,000 after acquiring an additional 12,322 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Acco Brands Corporation by 1.8% in the first quarter. Vanguard Group Inc. now owns 9,666,145 shares of the industrial products company’s stock worth $127,109,000 after acquiring an additional 174,498 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Acco Brands Corporation by 22.0% in the first quarter. Bank of America Corp DE now owns 397,823 shares of the industrial products company’s stock worth $5,232,000 after acquiring an additional 71,696 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Acco Brands Corporation by 8.3% in the first quarter. Victory Capital Management Inc. now owns 8,125 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 625 shares in the last quarter. Institutional investors and hedge funds own 91.15% of the company’s stock.
About Acco Brands Corporation
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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