Acco Brands Corporation (NYSE:ACCO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $15.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 14.94% from the company’s current price.

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 brokerages also recently weighed in on ACCO. ValuEngine downgraded shares of Acco Brands Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub upgraded shares of Acco Brands Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, BWS Financial reiterated a “buy” rating and issued a $18.00 price objective on shares of Acco Brands Corporation in a research report on Tuesday, July 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Acco Brands Corporation currently has a consensus rating of “Buy” and a consensus price target of $15.33.

Acco Brands Corporation (NYSE:ACCO) last issued its quarterly earnings data on Monday, October 30th. The industrial products company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The firm had revenue of $532.20 million for the quarter, compared to the consensus estimate of $529.65 million. Acco Brands Corporation had a net margin of 3.51% and a return on equity of 16.03%. Acco Brands Corporation’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period last year, the firm posted $0.29 EPS.

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In other Acco Brands Corporation news, insider Gregory J. Mccormack sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $10.95, for a total transaction of $273,750.00. Following the sale, the insider now directly owns 63,889 shares in the company, valued at approximately $699,584.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in ACCO. Victory Capital Management Inc. raised its position in shares of Acco Brands Corporation by 8.3% during the 1st quarter. Victory Capital Management Inc. now owns 8,125 shares of the industrial products company’s stock worth $107,000 after buying an additional 625 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Acco Brands Corporation by 15.8% during the 1st quarter. Teachers Advisors LLC now owns 1,210,803 shares of the industrial products company’s stock worth $15,922,000 after buying an additional 165,311 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Acco Brands Corporation by 1,766.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 19,261 shares of the industrial products company’s stock worth $253,000 after buying an additional 18,229 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Acco Brands Corporation by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 9,666,145 shares of the industrial products company’s stock worth $127,109,000 after buying an additional 174,498 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Acco Brands Corporation by 2.8% during the 1st quarter. Geode Capital Management LLC now owns 804,329 shares of the industrial products company’s stock worth $10,576,000 after buying an additional 22,287 shares in the last quarter. Institutional investors own 90.25% of the company’s stock.

Acco Brands Corporation Company Profile

ACCO Brands Corporation is engaged in designing, marketing and manufacturing of branded business, academic and selected consumer products. The Company operates through three segments: ACCO Brands North America, ACCO Brands International and Computer Products Group. The Company’s brands include Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Kensington, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra and Wilson Jones.

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