ACCO Brands (NYSE:ACCO) Price Target Raised to $7.50 at Barrington Research

ACCO Brands (NYSE:ACCO) had its price objective upped by Barrington Research from $7.00 to $7.50 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Separately, StockNews.com upgraded shares of ACCO Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 10th.

ACCO Brands Stock Performance

ACCO opened at $5.96 on Friday. The firm has a market capitalization of $553.56 million, a PE ratio of -3.15, a PEG ratio of 0.47 and a beta of 1.63. ACCO Brands has a twelve month low of $4.36 and a twelve month high of $6.62. The firm’s 50-day moving average price is $5.43 and its 200 day moving average price is $5.14. The company has a current ratio of 1.60, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. The firm had revenue of $420.90 million for the quarter, compared to analyst estimates of $418.20 million. ACCO Brands had a negative net margin of 10.64% and a positive return on equity of 14.30%. ACCO Brands’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 earnings per share. As a group, sell-side analysts expect that ACCO Brands will post 1.04 EPS for the current fiscal year.

ACCO Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 15th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 5.03%. The ex-dividend date is Friday, November 15th. ACCO Brands’s payout ratio is currently -15.87%.

Institutional Investors Weigh In On ACCO Brands

Large investors have recently modified their holdings of the company. FMR LLC increased its position in shares of ACCO Brands by 123.0% in the 3rd quarter. FMR LLC now owns 5,911 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 3,260 shares during the last quarter. nVerses Capital LLC boosted its holdings in shares of ACCO Brands by 68.3% in the 3rd quarter. nVerses Capital LLC now owns 6,900 shares of the industrial products company’s stock valued at $38,000 after buying an additional 2,800 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in shares of ACCO Brands in the 3rd quarter valued at $61,000. Y Intercept Hong Kong Ltd acquired a new position in shares of ACCO Brands in the 3rd quarter valued at $63,000. Finally, Innealta Capital LLC acquired a new position in shares of ACCO Brands in the 1st quarter valued at $65,000. 84.56% of the stock is owned by hedge funds and other institutional investors.

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.