Acco Brands Corp. (NYSE:ACCO) has been given an average broker rating score of 2.33 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Brokerages have set a 12 month consensus target price of $10.50 for the company and are predicting that the company will post $0.28 earnings per share for the current quarter, according to Zacks. Zacks has also given Acco Brands Corp. an industry rank of 3 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research lowered Acco Brands Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th.
Shares of Acco Brands Corp. (NYSE:ACCO) opened at 9.41 on Thursday. The company’s 50-day moving average price is $9.91 and its 200-day moving average price is $9.88. Acco Brands Corp. has a one year low of $5.47 and a one year high of $11.75. The stock has a market cap of $1.01 billion, a PE ratio of 7.80 and a beta of 1.96.
Acco Brands Corp. (NYSE:ACCO) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. Acco Brands Corp. had a return on equity of 14.64% and a net margin of 8.63%. The company earned $410.10 million during the quarter, compared to analyst estimates of $390.75 million. During the same quarter last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts anticipate that Acco Brands Corp. will post $0.83 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of ACCO. Societe Generale acquired a new stake in Acco Brands Corp. during the second quarter worth approximately $110,000. SG Americas Securities LLC acquired a new stake in Acco Brands Corp. during the second quarter worth approximately $110,000. Tower Research Capital LLC TRC raised its stake in Acco Brands Corp. by 331.0% in the second quarter. Tower Research Capital LLC TRC now owns 11,774 shares of the company’s stock worth $121,000 after buying an additional 9,042 shares during the last quarter. Springbok Capital Management LLC raised its stake in Acco Brands Corp. by 55.7% in the first quarter. Springbok Capital Management LLC now owns 15,722 shares of the company’s stock worth $141,000 after buying an additional 5,622 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Acco Brands Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 14,875 shares of the company’s stock worth $154,000 after buying an additional 1,802 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.
Acco Brands Corp. Company Profile
ACCO Brands Corporation is a manufacturer and marketer of office, school and calendar products, and also computer and electronic accessories. It sells its products to consumers and commercial end users through resellers, including traditional office supply resellers, wholesalers and retailers, including online retailers.
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