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

Wall Street Zen cut shares of Acco Brands (NYSE:ACCO) from a strong-buy rating to a buy rating in a report published on Sunday morning,Wall Street Zen reports.

Several other research firms also recently commented on ACCO. Weiss Ratings upgraded Acco Brands from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, November 2nd. Zacks Research upgraded Acco Brands from a “hold” rating to a “strong-buy” rating in a report on Monday, November 2nd. Finally, Barrington Research set a $6.00 price target on Acco Brands in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $6.00.

Acco Brands Price Performance

ACCO stock opened at $5.07 on Friday. The firm has a market cap of $467.70 million, a P/E ratio of 7.24, a P/E/G ratio of 0.86 and a beta of 1.20. The firm’s fifty day moving average is $4.49 and its 200 day moving average is $3.99. Acco Brands has a 52 week low of $2.81 and a 52 week high of $5.84. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.20 and a current ratio of 1.89.

Acco Brands (NYSE:ACCO) last posted its quarterly earnings results on Thursday, October 29th. The industrial products company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.09. Acco Brands had a net margin of 4.23% and a return on equity of 13.48%. The business had revenue of $380.30 million during the quarter, compared to the consensus estimate of $383.70 million. Research analysts predict that Acco Brands will post 0.98 earnings per share for the current year.

Acco Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.0750 per share. This represents a $0.30 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, November 20th. Acco Brands’s dividend payout ratio is 42.86%.

Institutional Trading of Acco Brands

A number of institutional investors have recently modified their holdings of ACCO. BlackRock Inc. bought a new stake in Acco Brands during the 2nd quarter valued at approximately $36,919,000. Allspring Global Investments Holdings LLC grew its stake 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 purchasing an additional 67,799 shares during the period. Dimensional Fund Advisors LP grew its stake 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 purchasing an additional 79,116 shares during the period. Bank of America Corp DE purchased a new stake in Acco Brands in the second quarter worth $4,291,000. Finally, Bank of New York Mellon Corp bought a new position in Acco Brands in the second quarter worth $4,079,000. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

Acco Brands Company Profile

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.