ACCO Brands Co. (ACCO) Receives $15.33 Consensus PT from Analysts

ACCO Brands Co. (NYSE:ACCO) has earned a consensus rating of “Hold” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $15.33.

ACCO has been the topic of several recent research reports. Zacks Investment Research lowered shares of ACCO Brands from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Noble Financial reiterated a “buy” rating and issued a $15.00 price target on shares of ACCO Brands in a research note on Monday, August 6th. Finally, ValuEngine lowered shares of ACCO Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th.

Shares of ACCO stock opened at $8.09 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.03 and a debt-to-equity ratio of 1.28. ACCO Brands has a 1 year low of $7.39 and a 1 year high of $14.63. The firm has a market capitalization of $814.72 million, a price-to-earnings ratio of 6.80, a price-to-earnings-growth ratio of 0.68 and a beta of 1.65.

ACCO Brands (NYSE:ACCO) last issued its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). ACCO Brands had a net margin of 7.36% and a return on equity of 17.38%. The business had revenue of $507.30 million during the quarter, compared to analyst estimates of $533.26 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. Research analysts expect that ACCO Brands will post 1.17 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Friday, November 30th will be paid a $0.06 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.24 annualized dividend and a yield of 2.97%. ACCO Brands’s payout ratio is currently 20.17%.

In other news, Chairman Boris Elisman acquired 6,547 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The stock was bought at an average price of $7.72 per share, with a total value of $50,542.84. Following the transaction, the chairman now directly owns 798,917 shares in the company, valued at approximately $6,167,639.24. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Gregory J. Mccormack sold 15,678 shares of ACCO Brands stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $12.42, for a total transaction of $194,720.76. Following the completion of the transaction, the senior vice president now directly owns 81,079 shares of the company’s stock, valued at approximately $1,007,001.18. The disclosure for this sale can be found here. Insiders acquired a total of 19,647 shares of company stock worth $156,253 over the last quarter. Company insiders own 4.50% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ACCO. Bessemer Group Inc. bought a new position in shares of ACCO Brands in the 3rd quarter valued at about $119,000. Meeder Asset Management Inc. grew its position in shares of ACCO Brands by 710.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 11,050 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 9,687 shares during the period. Sun Life Financial INC bought a new stake in shares of ACCO Brands during the 2nd quarter worth about $140,000. Verition Fund Management LLC bought a new stake in shares of ACCO Brands during the 3rd quarter worth about $152,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of ACCO Brands by 2,604.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 14,386 shares of the industrial products company’s stock worth $163,000 after buying an additional 13,854 shares during the period. 94.21% of the stock is owned by institutional investors.

About ACCO Brands

ACCO Brands Corporation designs, manufactures, and markets, consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, calendars, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.

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