Acco Brands (NYSE:ACCO) Upgraded to "Hold" at Zacks Research

Key Points

• Acco Brands has been upgraded by Zacks Research from a "strong sell" to a "hold" rating, reflecting a more positive outlook from analysts.
• The stock's current consensus rating is "Moderate Buy," with a price target set at $6.00 according to reports from various analysts.
• Despite the upgrade, Acco Brands' stock experienced a 0.4% decline recently, with current trading around $3.8750 and a 52-week range between $3.32 and $6.43.

Zacks Research upgraded shares of Acco Brands (NYSE:ACCO - Free Report) from a strong sell rating to a hold rating in a report published on Monday, August 18th,Zacks.com reports.

ACCO has been the subject of several other reports. Wall Street Zen raised Acco Brands from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Barrington Research reaffirmed an "outperform" rating and set a $6.00 price target on shares of Acco Brands in a research report on Thursday, August 14th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $6.00.

Acco Brands Stock Down 0.4%

ACCO stock traded down $0.0150 during trading on Monday, reaching $3.9950. 179,818 shares of the stock were exchanged, compared to its average volume of 780,200. The firm's 50 day moving average is $3.74 and its 200 day moving average is $4.00. Acco Brands has a twelve month low of $3.32 and a twelve month high of $6.43. The company has a current ratio of 1.85, a quick ratio of 1.15 and a debt-to-equity ratio of 1.48. The firm has a market cap of $360.08 million, a P/E ratio of 8.50, a price-to-earnings-growth ratio of 0.47 and a beta of 1.39.

Acco Brands (NYSE:ACCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.01). Acco Brands had a return on equity of 13.60% and a net margin of 2.90%.The firm had revenue of $394.80 million for the quarter, compared to analyst estimates of $389.81 million. Acco Brands has set its FY 2025 guidance at 0.830-0.900 EPS. Q3 2025 guidance at 0.210-0.240 EPS. As a group, research analysts forecast that Acco Brands will post 1.02 EPS for the current year.

Acco Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Friday, August 22nd. Acco Brands's dividend payout ratio is 63.83%.

Hedge Funds Weigh In On Acco Brands

Institutional investors and hedge funds have recently bought and sold shares of the company. Diversified Trust Co grew its holdings in Acco Brands by 18.4% during the first quarter. Diversified Trust Co now owns 30,058 shares of the industrial products company's stock valued at $126,000 after purchasing an additional 4,669 shares during the period. Deutsche Bank AG grew its holdings in Acco Brands by 49.8% during the fourth quarter. Deutsche Bank AG now owns 92,644 shares of the industrial products company's stock valued at $486,000 after purchasing an additional 30,803 shares during the period. Envestnet Asset Management Inc. grew its holdings in Acco Brands by 29.9% during the first quarter. Envestnet Asset Management Inc. now owns 443,737 shares of the industrial products company's stock valued at $1,859,000 after purchasing an additional 102,213 shares during the period. Jane Street Group LLC grew its holdings in Acco Brands by 4.2% during the fourth quarter. Jane Street Group LLC now owns 388,845 shares of the industrial products company's stock valued at $2,041,000 after purchasing an additional 15,508 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Acco Brands by 25.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 345,511 shares of the industrial products company's stock valued at $1,814,000 after purchasing an additional 70,365 shares during the period. 84.56% of the stock is owned by 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.