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

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

A number of other equities research analysts also recently issued reports on the stock. Barrington Research set a $6.00 price target on shares of Acco Brands in a research note on Wednesday, August 5th. Zacks Research raised shares of Acco Brands from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 2nd. Finally, Weiss Ratings upgraded shares of Acco Brands from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $6.00.

Acco Brands Stock Performance

NYSE:ACCO opened at $5.33 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.89 and a quick ratio of 1.20. Acco Brands has a 1 year low of $2.81 and a 1 year high of $5.84. The stock’s 50 day simple moving average is $4.53 and its two-hundred day simple moving average is $4.01. The company has a market cap of $492.63 million, a price-to-earnings ratio of 7.62, a PEG ratio of 0.90 and a beta of 1.20.

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

Acco Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Investors of record on Friday, November 20th will be issued a dividend of $0.0750 per share. This represents a $0.30 annualized dividend and a yield of 5.6%. The ex-dividend date is Friday, November 20th. Acco Brands’s dividend payout ratio is presently 42.86%.

Institutional Trading of Acco Brands

A number of institutional investors have recently bought and sold shares of ACCO. Ieq Capital LLC boosted its stake in Acco Brands by 74.3% during the third quarter. Ieq Capital LLC now owns 85,832 shares of the industrial products company’s stock worth $360,000 after buying an additional 36,581 shares during the period. Royce & Associates LP raised its stake in shares of Acco Brands by 36.4% in the third quarter. Royce & Associates LP now owns 29,342 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 7,824 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Acco Brands by 2.3% in the third quarter. Russell Investments Group Ltd. now owns 274,909 shares of the industrial products company’s stock valued at $1,155,000 after acquiring an additional 6,216 shares during the period. Brighton Jones LLC lifted its holdings in shares of Acco Brands by 19.4% in the 3rd quarter. Brighton Jones LLC now owns 13,183 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 2,145 shares during the last quarter. Finally, Abacus Wealth Partners LLC lifted its holdings in shares of Acco Brands by 28.3% in the 3rd quarter. Abacus Wealth Partners LLC now owns 99,903 shares of the industrial products company’s stock worth $420,000 after acquiring an additional 22,022 shares during the last quarter. 84.56% of the stock is currently owned by 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.