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

Acco Brands (NYSE:ACCO) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Acco Brands in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.00.

Acco Brands Trading Up 1.7%

NYSE:ACCO opened at $3.94 on Friday. The company has a market cap of $354.70 million, a PE ratio of 9.37, a P/E/G ratio of 0.37 and a beta of 1.09. The business’s 50 day moving average is $3.61 and its two-hundred day moving average is $3.80. The company has a quick ratio of 0.96, a current ratio of 1.68 and a debt-to-equity ratio of 1.30. Acco Brands has a 52 week low of $3.20 and a 52 week high of $5.68.

Acco Brands (NYSE:ACCO) last posted its quarterly earnings results on Friday, March 15th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter. Acco Brands had a return on equity of 12.96% and a net margin of 2.63%.The business had revenue of $499.40 million for the quarter. Acco Brands has set its FY 2025 guidance at 0.830-0.900 EPS. On average, analysts predict that Acco Brands will post 1.02 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its holdings in shares of Acco Brands by 218.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 25,541 shares of the industrial products company’s stock worth $91,000 after buying an additional 17,519 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Acco Brands by 14.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,288,508 shares of the industrial products company’s stock worth $27,988,000 after acquiring an additional 910,009 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in Acco Brands by 20.0% during the second quarter. First Eagle Investment Management LLC now owns 863,769 shares of the industrial products company’s stock valued at $3,092,000 after acquiring an additional 144,005 shares during the period. AQR Capital Management LLC grew its position in shares of Acco Brands by 18.6% in the first quarter. AQR Capital Management LLC now owns 1,295,815 shares of the industrial products company’s stock valued at $5,429,000 after purchasing an additional 202,965 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Acco Brands in the second quarter valued at about $78,000. 84.56% of the stock is owned by institutional investors and hedge funds.

Acco Brands Company Profile

Acco Brands Corporation is a global provider of branded office and school supplies, serving consumers, educational institutions and commercial customers. Headquartered in Lake Zurich, Illinois, the company designs, manufactures and distributes a wide range of products that enhance productivity and organization in work and learning environments.

The company’s portfolio includes staplers, hole punches, binding and laminating systems, writing tools, binders, folders and desktop accessories under well-known names such as ACCO, Swingline, GBC, Kensington, Mead and Five Star.