ACCO Brands (NYSE:ACCO) Price Target Cut to $6.00 by Analysts at Barrington Research

ACCO Brands (NYSE:ACCO - Get Free Report) had its price objective cut by equities research analysts at Barrington Research from $7.00 to $6.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the industrial products company's stock. Barrington Research's price target would suggest a potential upside of 73.16% from the company's current price.

Separately, Wall Street Zen upgraded ACCO Brands from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th.

ACCO Brands Price Performance

NYSE:ACCO traded down $0.12 during trading hours on Friday, hitting $3.47. 697,197 shares of the stock traded hands, compared to its average volume of 829,151. The stock has a 50 day moving average price of $3.91 and a 200 day moving average price of $4.86. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38. The company has a market cap of $312.19 million, a price-to-earnings ratio of -3.27, a price-to-earnings-growth ratio of 0.37 and a beta of 1.36. ACCO Brands has a 1 year low of $3.41 and a 1 year high of $6.43.

ACCO Brands (NYSE:ACCO - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. The firm had revenue of $317.40 million for the quarter, compared to analysts' expectations of $318.75 million. Sell-side analysts forecast that ACCO Brands will post 1.02 EPS for the current fiscal year.

Institutional Trading of ACCO Brands

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in shares of ACCO Brands by 1.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,120,891 shares of the industrial products company's stock valued at $31,767,000 after buying an additional 97,086 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of ACCO Brands during the 4th quarter valued at about $107,000. Jane Street Group LLC increased its holdings in shares of ACCO Brands by 4.2% during the 4th quarter. Jane Street Group LLC now owns 388,845 shares of the industrial products company's stock worth $2,041,000 after buying an additional 15,508 shares during the last quarter. MetLife Investment Management LLC grew its position in ACCO Brands by 39.0% in the fourth quarter. MetLife Investment Management LLC now owns 57,129 shares of the industrial products company's stock worth $300,000 after acquiring an additional 16,039 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of ACCO Brands by 56.6% in the 4th quarter. JPMorgan Chase & Co. now owns 811,629 shares of the industrial products company's stock valued at $4,261,000 after purchasing an additional 293,506 shares during the last quarter. 84.56% of the stock is owned by hedge funds and other institutional investors.

About ACCO Brands

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.

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