ACCO Brands (ACCO) Rating Increased to Buy at Zacks Investment Research
ACCO Brands (NYSE:ACCO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $14.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.82% from the stock’s previous close.
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. “
ACCO has been the subject of a number of other reports. SunTrust Banks reissued a “hold” rating and set a $13.00 price target on shares of ACCO Brands in a research report on Wednesday, November 1st. BidaskClub raised shares of ACCO Brands from a “hold” rating to a “buy” rating in a research report on Friday, October 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. ACCO Brands has an average rating of “Buy” and a consensus price target of $15.00.
ACCO Brands (NYSE:ACCO) last issued its quarterly earnings results on Monday, October 30th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. ACCO Brands had a net margin of 3.51% and a return on equity of 15.99%. The company had revenue of $532.20 million during the quarter, compared to analysts’ expectations of $529.65 million. During the same period last year, the company posted $0.29 EPS. ACCO Brands’s revenue was up 23.4% on a year-over-year basis. equities analysts anticipate that ACCO Brands will post 1.15 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of ACCO. Royal Bank of Canada raised its holdings in ACCO Brands by 5.9% in the second quarter. Royal Bank of Canada now owns 6,122,124 shares of the industrial products company’s stock worth $71,323,000 after buying an additional 339,057 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in ACCO Brands by 35.0% in the third quarter. Ameriprise Financial Inc. now owns 832,693 shares of the industrial products company’s stock worth $9,911,000 after buying an additional 216,020 shares during the last quarter. Northern Trust Corp raised its holdings in ACCO Brands by 9.5% in the second quarter. Northern Trust Corp now owns 2,428,165 shares of the industrial products company’s stock worth $28,288,000 after buying an additional 210,786 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in ACCO Brands by 16.6% in the third quarter. Russell Investments Group Ltd. now owns 1,268,126 shares of the industrial products company’s stock worth $15,089,000 after buying an additional 180,698 shares during the last quarter. Finally, Boston Partners raised its holdings in ACCO Brands by 6.3% in the third quarter. Boston Partners now owns 1,914,787 shares of the industrial products company’s stock worth $22,786,000 after buying an additional 114,308 shares during the last quarter. 91.17% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: “ACCO Brands (ACCO) Rating Increased to Buy at Zacks Investment Research” was posted by Daily Political and is owned by of Daily Political. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright & trademark legislation. The correct version of this report can be read at https://www.dailypolitical.com/2018/01/05/acco-brands-acco-rating-increased-to-buy-at-zacks-investment-research.html.
About ACCO Brands
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.
Receive News & Ratings for ACCO Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACCO Brands and related companies with MarketBeat.com's FREE daily email newsletter.