Acco Brands (NYSE:ACCO) Stock Rating Cut to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Acco Brands from “strong buy” to “buy.” Despite the cut, analysts’ consensus rating remains “buy,” with a $6.00 price target.
• Acco reported quarterly EPS of $0.28, beating the $0.19 consensus, while revenue of $380.3 million came in slightly below estimates of $383.7 million.
• Shares were down 3.7%; the stock opened at $5.07 and had a 52-week range of $2.81 to $5.84.

Acco Brands (NYSE:ACCO - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Several other equities research analysts also recently issued reports on ACCO. Weiss Ratings upgraded shares of Acco Brands from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, November 2nd. Zacks Research upgraded Acco Brands from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 2nd. Finally, Barrington Research set a $6.00 price target on shares of Acco Brands in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Acco Brands presently has a consensus rating of "Buy" and a consensus price target of $6.00.

Acco Brands Trading Down 3.7%

Shares of ACCO opened at $5.07 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.22 and a current ratio of 1.89. The company has a market capitalization of $467.71 million, a PE ratio of 7.24, a price-to-earnings-growth ratio of 0.86 and a beta of 1.20. Acco Brands has a fifty-two week low of $2.81 and a fifty-two week high of $5.84. The stock has a fifty day moving average of $4.49 and a two-hundred day moving average of $3.99.

Acco Brands (NYSE:ACCO - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The industrial products company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.09. Acco Brands had a net margin of 4.23% and a return on equity of 13.48%. The company had revenue of $380.30 million for the quarter, compared to analyst estimates of $383.70 million. As a group, analysts forecast that Acco Brands will post 0.98 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Acco Brands in the second quarter worth approximately $36,919,000. Allspring Global Investments Holdings LLC grew its position in Acco Brands by 0.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,717,401 shares of the industrial products company's stock worth $22,612,000 after buying an additional 67,799 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Acco Brands by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,436,286 shares of the industrial products company's stock worth $13,308,000 after buying an additional 79,116 shares during the last quarter. Bank of America Corp DE acquired a new position in Acco Brands in the second quarter worth approximately $4,291,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Acco Brands in the second quarter valued at $4,079,000. Institutional investors own 84.56% of the company's stock.

About Acco Brands

ACCO Brands Corporation is a global manufacturer and marketer of consumer and office products. Its portfolio includes supplies and equipment used in workplaces, schools and homes, as well as products designed to support organization, productivity and personal technology.

The company's brands include Swingline, Kensington, Mead, Five Star, GBC, Quartet and Esselte. Its products include staplers, punches, shredders, laminators, binding systems, presentation supplies, notebooks, planners, backpacks, computer accessories and other workspace and school supplies.

ACCO Brands traces its history to the American Clip Company, founded in 1903.

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