ACCO Brands (NYSE:ACCO) Given New $7.00 Price Target at Barrington Research

ACCO Brands (NYSE:ACCO) had its target price reduced by Barrington Research from $7.50 to $7.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Barrington Research’s price objective points to a potential upside of 53.07% from the company’s previous close.

Separately, StockNews.com cut shares of ACCO Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th.

ACCO Brands Price Performance

NYSE ACCO traded up $0.17 during trading hours on Tuesday, reaching $4.57. 758,965 shares of the stock traded hands, compared to its average volume of 722,578. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 0.94. The stock has a 50 day simple moving average of $5.22 and a two-hundred day simple moving average of $5.38. ACCO Brands has a 1 year low of $4.30 and a 1 year high of $6.43. The company has a market cap of $424.74 million, a price-to-earnings ratio of -4.29, a price-to-earnings-growth ratio of 0.37 and a beta of 1.68.

ACCO Brands (NYSE:ACCO) last announced its quarterly earnings data on Thursday, February 20th. The industrial products company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The firm had revenue of $448.10 million for the quarter, compared to analysts’ expectations of $455.06 million. ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. On average, analysts predict that ACCO Brands will post 1.02 EPS for the current fiscal year.

Institutional Investors Weigh In On ACCO Brands

Several institutional investors have recently bought and sold shares of ACCO. Millennium Management LLC lifted its position in ACCO Brands by 127.8% in the fourth quarter. Millennium Management LLC now owns 1,532,460 shares of the industrial products company’s stock valued at $8,045,000 after purchasing an additional 859,787 shares during the last quarter. American Century Companies Inc. increased its stake in shares of ACCO Brands by 37.4% in the fourth quarter. American Century Companies Inc. now owns 2,067,924 shares of the industrial products company’s stock worth $10,857,000 after buying an additional 562,985 shares during the period. Capital Management Corp VA raised its holdings in ACCO Brands by 14.3% during the 3rd quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock valued at $19,288,000 after buying an additional 439,810 shares during the last quarter. Alliancebernstein L.P. boosted its position in ACCO Brands by 663.4% during the 4th quarter. Alliancebernstein L.P. now owns 410,236 shares of the industrial products company’s stock valued at $2,154,000 after buying an additional 356,500 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in ACCO Brands by 135.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 577,039 shares of the industrial products company’s stock worth $3,029,000 after acquiring an additional 331,537 shares during the last quarter. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

About ACCO Brands

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.