ACCO Brands (NYSE:ACCO) Downgraded by Zacks Investment Research

ACCO Brands (NYSE:ACCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, 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. “

A number of other brokerages have also commented on ACCO. Noble Financial reaffirmed a “buy” rating and issued a $14.00 price target on shares of ACCO Brands in a research note on Thursday, August 8th. ValuEngine downgraded shares of ACCO Brands from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 30th. Finally, TheStreet raised ACCO Brands from a “c+” rating to a “b-” rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $12.00.

Shares of ACCO Brands stock traded down $0.17 during trading on Tuesday, reaching $8.83. The company’s stock had a trading volume of 560,008 shares, compared to its average volume of 569,129. The company has a quick ratio of 0.96, a current ratio of 1.62 and a debt-to-equity ratio of 1.26. ACCO Brands has a 52-week low of $6.07 and a 52-week high of $10.26. The firm’s 50-day moving average is $9.48 and its two-hundred day moving average is $8.86. The company has a market cap of $887.43 million, a price-to-earnings ratio of 7.75, a PEG ratio of 1.13 and a beta of 1.75.

ACCO Brands (NYSE:ACCO) last released its earnings results on Tuesday, October 29th. The industrial products company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The company had revenue of $505.70 million during the quarter, compared to the consensus estimate of $517.63 million. ACCO Brands had a net margin of 5.05% and a return on equity of 15.40%. The company’s revenue was down .3% on a year-over-year basis. During the same period last year, the firm posted $0.34 EPS. On average, equities research analysts anticipate that ACCO Brands will post 1.16 EPS for the current year.

In other news, SVP Gregory J. Mccormack sold 10,872 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $9.55, for a total transaction of $103,827.60. Following the sale, the senior vice president now owns 108,302 shares in the company, valued at $1,034,284.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Pamela R. Schneider sold 38,050 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $9.29, for a total transaction of $353,484.50. Following the sale, the senior vice president now owns 164,529 shares in the company, valued at approximately $1,528,474.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 370,534 shares of company stock valued at $3,456,502. 4.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ACCO. Northern Trust Corp lifted its position in ACCO Brands by 1.4% in the 2nd quarter. Northern Trust Corp now owns 2,238,837 shares of the industrial products company’s stock valued at $17,621,000 after acquiring an additional 30,572 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in ACCO Brands by 1.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,941,729 shares of the industrial products company’s stock valued at $45,693,000 after purchasing an additional 104,622 shares during the last quarter. SG Americas Securities LLC purchased a new stake in ACCO Brands during the 3rd quarter valued at $128,000. Rhumbline Advisers increased its holdings in shares of ACCO Brands by 8.0% in the 3rd quarter. Rhumbline Advisers now owns 168,917 shares of the industrial products company’s stock worth $1,667,000 after purchasing an additional 12,503 shares in the last quarter. Finally, United Services Automobile Association increased its holdings in shares of ACCO Brands by 8.8% in the 2nd quarter. United Services Automobile Association now owns 1,503,706 shares of the industrial products company’s stock worth $11,834,000 after purchasing an additional 121,430 shares in the last quarter. Institutional investors own 88.83% 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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