ACCO Brands (NYSE:ACCO) Rating Lowered to Hold at StockNews.com

ACCO Brands (NYSE:ACCO) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

Separately, Barrington Research reiterated an “outperform” rating and set a $7.50 price target on shares of ACCO Brands in a research note on Thursday, February 29th.

ACCO Brands Price Performance

ACCO Brands stock opened at $4.91 on Monday. The stock’s 50 day moving average is $5.23 and its 200 day moving average is $5.55. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.58 and a quick ratio of 0.97. The firm has a market cap of $469.59 million, a P/E ratio of -18.19, a P/E/G ratio of 0.38 and a beta of 1.66. ACCO Brands has a one year low of $4.64 and a one year high of $6.62.

ACCO Brands (NYSE:ACCO) last issued its earnings results on Friday, May 3rd. The industrial products company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. ACCO Brands had a positive return on equity of 12.19% and a negative net margin of 1.36%. The company had revenue of $358.90 million for the quarter, compared to analyst estimates of $371.80 million. During the same period in the prior year, the firm earned $0.09 earnings per share. ACCO Brands’s revenue for the quarter was down 10.9% on a year-over-year basis. As a group, research analysts expect that ACCO Brands will post 1.07 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its holdings in ACCO Brands by 13.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock valued at $32,381,000 after purchasing an additional 706,291 shares during the period. Wellington Management Group LLP raised its position in ACCO Brands by 7.7% during the third quarter. Wellington Management Group LLP now owns 5,574,697 shares of the industrial products company’s stock valued at $31,999,000 after purchasing an additional 396,588 shares during the period. LSV Asset Management grew its stake in shares of ACCO Brands by 0.7% during the first quarter. LSV Asset Management now owns 3,390,700 shares of the industrial products company’s stock valued at $19,022,000 after buying an additional 24,900 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of ACCO Brands by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,422,023 shares of the industrial products company’s stock valued at $14,724,000 after buying an additional 68,416 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of ACCO Brands by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 1,251,344 shares of the industrial products company’s stock valued at $7,183,000 after buying an additional 12,919 shares during the last quarter. Hedge funds and other institutional investors own 84.56% of the company’s stock.

ACCO Brands Company Profile

ACCO Brands Corporation designs, manufactures, and markets consumer, school, technology, and office products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company provides computer and gaming accessories, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; sheet protectors and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.