ACCO Brands (NYSE:ACCO) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of ACCO Brands (NYSE:ACCO) from a buy rating to a hold rating in a report published on Friday, 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 commented on the stock. Barrington Research restated a buy rating and issued a $11.00 price objective on shares of ACCO Brands in a report on Wednesday, May 8th. Noble Financial set a $14.00 price objective on shares of ACCO Brands and gave the stock a buy rating in a report on Friday, May 3rd. Finally, ValuEngine lowered 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 assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $11.08.

NYSE:ACCO opened at $7.87 on Friday. The firm’s fifty day moving average price is $7.79. ACCO Brands has a 52 week low of $6.07 and a 52 week high of $14.63. 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 cap of $803.45 million, a price-to-earnings ratio of 6.90, a P/E/G ratio of 0.66 and a beta of 1.90.

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, beating the Zacks’ 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 analyst estimates of $391.71 million. During the same period in the prior year, the business posted $0.08 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. Research analysts predict that ACCO Brands will post 1.17 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Friday, May 24th were issued a $0.06 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $0.24 annualized dividend and a yield of 3.05%. ACCO Brands’s dividend payout ratio (DPR) is presently 21.05%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Royce & Associates LP grew its position in shares of ACCO Brands by 45.8% in the 4th quarter. Royce & Associates LP now owns 4,635 shares of the industrial products company’s stock worth $31,000 after buying an additional 1,457 shares during the period. PNC Financial Services Group Inc. grew its position in shares of ACCO Brands by 138.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,642 shares of the industrial products company’s stock worth $41,000 after buying an additional 2,697 shares during the period. Great West Life Assurance Co. Can grew its position in shares of ACCO Brands by 23.1% in the 4th quarter. Great West Life Assurance Co. Can now owns 13,338 shares of the industrial products company’s stock worth $87,000 after buying an additional 2,507 shares during the period. Abacus Planning Group Inc. purchased a new stake in shares of ACCO Brands in the 1st quarter worth about $88,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of ACCO Brands in the 4th quarter worth about $122,000. 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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