Acco Brands (NYSE:ACCO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Acco Brands (NYSE:ACCO) from a hold rating to a buy rating in a research note published on Saturday morning.

Separately, Weiss Ratings upgraded shares of Acco Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 9th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.00.

Acco Brands Trading Up 1.4%

Acco Brands stock opened at $4.12 on Friday. Acco Brands has a 12-month low of $3.20 and a 12-month high of $5.68. The firm has a market capitalization of $370.93 million, a price-to-earnings ratio of 9.80, a P/E/G ratio of 0.39 and a beta of 1.09. The firm has a 50 day moving average of $3.89 and a 200 day moving average of $3.83. The company has a current ratio of 1.68, a quick ratio of 0.96 and a debt-to-equity ratio of 1.30.

Hedge Funds Weigh In On Acco Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new stake in Acco Brands in the 1st quarter valued at $127,000. Empowered Funds LLC grew its position in shares of Acco Brands by 3.7% during the first quarter. Empowered Funds LLC now owns 460,514 shares of the industrial products company’s stock valued at $1,930,000 after purchasing an additional 16,343 shares in the last quarter. KLP Kapitalforvaltning AS increased its holdings in shares of Acco Brands by 419.9% in the second quarter. KLP Kapitalforvaltning AS now owns 91,500 shares of the industrial products company’s stock worth $328,000 after purchasing an additional 73,900 shares during the last quarter. CWM LLC increased its holdings in shares of Acco Brands by 38.1% in the second quarter. CWM LLC now owns 30,714 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 8,470 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Acco Brands by 89.9% in the second quarter. Allianz Asset Management GmbH now owns 97,803 shares of the industrial products company’s stock worth $350,000 after buying an additional 46,303 shares in the last quarter. Institutional investors own 84.56% of the company’s stock.

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.