Acco Brands (NYSE:ACCO) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Acco Brands (NYSE:ACCO) from a hold rating to a buy rating in a research report report published on Saturday morning.

Separately, Weiss Ratings raised Acco Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Acco Brands Stock Performance

Shares of NYSE:ACCO opened at $4.12 on Friday. The company has a current ratio of 1.68, a quick ratio of 0.96 and a debt-to-equity ratio of 1.30. Acco Brands has a 12 month low of $3.20 and a 12 month high of $5.68. The company has a market capitalization of $370.93 million, a price-to-earnings ratio of 9.80, a PEG ratio of 0.39 and a beta of 1.09. The firm’s 50-day moving average is $3.88 and its 200 day moving average is $3.83.

Institutional Trading of Acco Brands

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Eagle Investment Management LLC lifted its stake in shares of Acco Brands by 20.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 863,769 shares of the industrial products company’s stock worth $3,092,000 after purchasing an additional 144,005 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Acco Brands by 2.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,463,492 shares of the industrial products company’s stock valued at $30,376,000 after buying an additional 174,984 shares during the last quarter. KLP Kapitalforvaltning AS boosted its holdings in shares of Acco Brands by 419.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 91,500 shares of the industrial products company’s stock valued at $328,000 after buying an additional 73,900 shares in the last quarter. CSM Advisors LLC purchased a new position in shares of Acco Brands in the 2nd quarter worth approximately $2,638,000. Finally, Gamco Investors INC. ET AL raised its stake in shares of Acco Brands by 188.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 432,373 shares of the industrial products company’s stock worth $1,548,000 after acquiring an additional 282,326 shares in the last quarter. 84.56% of the stock is currently owned by institutional investors.

About Acco Brands

Acco Brands Corporation is a global provider of branded office and school supplies, serving consumers, educational institutions and commercial customers. Headquartered in Lake Zurich, Illinois, the company designs, manufactures and distributes a wide range of products that enhance productivity and organization in work and learning environments.

The company’s portfolio includes staplers, hole punches, binding and laminating systems, writing tools, binders, folders and desktop accessories under well-known names such as ACCO, Swingline, GBC, Kensington, Mead and Five Star.