ACCO Brands (NYSE:ACCO) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of ACCO Brands (NYSE:ACCO) from a buy rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “ACCO Brands Corporation is a world leader in branded office products. Its industry-leading brands include Swingline, Kensington, Wilson Jones, Quartet, GBC, and Day-Timer, among others. Under the GBC brand, the Company is also a leader in the professional printing market. “

Several other research analysts have also recently commented on the stock. Barrington Research reiterated a buy rating and set a $11.00 price target on shares of ACCO Brands in a report on Wednesday, May 8th. Noble Financial set a $14.00 price target on shares of ACCO Brands and gave the stock a buy rating in a report on Friday, May 3rd. Finally, ValuEngine cut shares of ACCO Brands from a sell rating to a strong sell rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $11.25.

Shares of ACCO stock opened at $7.71 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $787.11 million, a P/E ratio of 6.76, a price-to-earnings-growth ratio of 0.65 and a beta of 1.90. ACCO Brands has a fifty-two week low of $6.07 and a fifty-two week high of $14.63.

ACCO Brands (NYSE:ACCO) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. ACCO Brands had a net margin of 4.96% and a return on equity of 15.99%. The company had revenue of $393.90 million during the quarter, compared to analysts’ expectations of $391.71 million. During the same quarter in the previous year, the business posted $0.08 EPS. The firm’s revenue was down 2.9% on a year-over-year basis. As a group, research analysts predict that ACCO Brands will post 1.17 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Friday, May 24th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Thursday, May 23rd. ACCO Brands’s payout ratio is 21.05%.

Institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. raised its position in ACCO Brands by 17.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 13,468 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 2,032 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in ACCO Brands by 27.4% during the fourth quarter. Xact Kapitalforvaltning AB now owns 29,776 shares of the industrial products company’s stock valued at $202,000 after purchasing an additional 6,400 shares in the last quarter. Rhumbline Advisers raised its position in ACCO Brands by 39.0% during the fourth quarter. Rhumbline Advisers now owns 158,691 shares of the industrial products company’s stock valued at $1,076,000 after purchasing an additional 44,556 shares in the last quarter. Bailard Inc. raised its position in ACCO Brands by 17.5% during the fourth quarter. Bailard Inc. now owns 59,800 shares of the industrial products company’s stock valued at $405,000 after purchasing an additional 8,900 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in ACCO Brands by 9.1% during the fourth quarter. Victory Capital Management Inc. now owns 102,902 shares of the industrial products company’s stock valued at $698,000 after purchasing an additional 8,591 shares in the last quarter. Institutional investors and hedge funds own 91.11% of the company’s stock.

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, janitorial supplies, and whiteboards; storage and organization products, such as three-ring and lever-arch binders, sheet protectors, and indexes; laminating, binding, and shredding machines, as well as related consumable supplies; writing instruments; stapling and punching products; do-it-yourself tools; and computer accessories and others used in schools, homes, and businesses.

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