Barrington Research Reaffirms “Outperform” Rating for ACCO Brands (NYSE:ACCO)

ACCO Brands (NYSE:ACCO)‘s stock had its “outperform” rating reissued by investment analysts at Barrington Research in a research report issued on Wednesday, Benzinga reports. They presently have a $7.00 target price on the industrial products company’s stock. Barrington Research’s target price indicates a potential upside of 32.20% from the company’s previous close. Barrington Research also issued estimates for ACCO Brands’ Q3 2024 earnings at $0.22 EPS, Q4 2024 earnings at $0.42 EPS and FY2025 earnings at $1.08 EPS.

Separately, StockNews.com raised ACCO Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th.

ACCO Brands Trading Down 1.6 %

NYSE:ACCO opened at $5.30 on Wednesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.77 and a quick ratio of 1.09. ACCO Brands has a fifty-two week low of $4.36 and a fifty-two week high of $6.62. The stock’s 50-day moving average is $4.95 and its two-hundred day moving average is $5.11. The stock has a market cap of $506.20 million, a PE ratio of -19.61, a price-to-earnings-growth ratio of 0.44 and a beta of 1.62.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. The business had revenue of $438.30 million during the quarter, compared to analysts’ expectations of $452.73 million. ACCO Brands had a positive return on equity of 13.32% and a negative net margin of 10.15%. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 EPS. As a group, equities research analysts forecast that ACCO Brands will post 1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ACCO Brands news, SVP Pamela R. Schneider sold 19,166 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $5.47, for a total transaction of $104,838.02. Following the completion of the sale, the senior vice president now owns 243,899 shares of the company’s stock, valued at $1,334,127.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On ACCO Brands

A number of large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its position in ACCO Brands by 13.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,772,069 shares of the industrial products company’s stock worth $32,381,000 after purchasing an additional 706,291 shares during the period. LSV Asset Management boosted its position in ACCO Brands by 0.7% during the first quarter. LSV Asset Management now owns 3,390,700 shares of the industrial products company’s stock worth $19,022,000 after purchasing an additional 24,900 shares during the period. Capital Management Corp VA lifted its holdings in shares of ACCO Brands by 286.7% during the first quarter. Capital Management Corp VA now owns 2,430,785 shares of the industrial products company’s stock worth $13,637,000 after buying an additional 1,802,250 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of ACCO Brands by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,422,023 shares of the industrial products company’s stock worth $14,724,000 after buying an additional 68,416 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of ACCO Brands by 34.6% during the second quarter. AQR Capital Management LLC now owns 1,656,925 shares of the industrial products company’s stock worth $7,788,000 after buying an additional 426,201 shares during the last quarter. Institutional investors own 84.56% of the company’s stock.

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.