ValuEngine Downgrades ACCO Brands (ACCO) to Hold

ValuEngine lowered shares of ACCO Brands (NYSE:ACCO) from a buy rating to a hold rating in a report released on Monday, April 2nd.

Separately, Zacks Investment Research cut shares of ACCO Brands from a buy rating to a hold rating in a report on Tuesday, January 2nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. ACCO Brands currently has a consensus rating of Hold and a consensus target price of $15.33.

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ACCO stock traded up $0.25 during trading on Monday, hitting $13.40. 395,997 shares of the company’s stock traded hands, compared to its average volume of 570,734. The firm has a market cap of $1,372.64, a price-to-earnings ratio of 11.26, a PEG ratio of 0.95 and a beta of 1.27. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.15. ACCO Brands has a 1 year low of $10.35 and a 1 year high of $14.75.

ACCO Brands (NYSE:ACCO) last announced its earnings results on Wednesday, February 14th. The industrial products company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. ACCO Brands had a net margin of 6.76% and a return on equity of 17.97%. The company had revenue of $566.80 million during the quarter, compared to the consensus estimate of $563.27 million. During the same period last year, the firm earned $0.32 earnings per share. ACCO Brands’s revenue was up 29.5% compared to the same quarter last year. analysts anticipate that ACCO Brands will post 1.35 EPS for the current fiscal year.

The business also recently announced a Not Available dividend, which was paid on Wednesday, March 21st. Stockholders of record on Thursday, March 1st were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, February 28th. ACCO Brands’s dividend payout ratio is currently 20.17%.

ACCO Brands declared that its board has authorized a share repurchase program on Wednesday, February 14th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

In other ACCO Brands news, VP Thomas W. Tedford sold 241,266 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $13.36, for a total value of $3,223,313.76. Following the transaction, the vice president now directly owns 190,500 shares in the company, valued at approximately $2,545,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Kathy D. Schnaedter sold 8,178 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $13.05, for a total transaction of $106,722.90. Following the completion of the transaction, the chief accounting officer now owns 72,299 shares in the company, valued at $943,501.95. The disclosure for this sale can be found here. Insiders have sold 451,058 shares of company stock worth $6,058,908 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC acquired a new position in ACCO Brands in the 3rd quarter valued at about $120,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of ACCO Brands by 92.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 12,390 shares of the industrial products company’s stock worth $147,000 after acquiring an additional 5,938 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new position in shares of ACCO Brands in the 4th quarter worth approximately $189,000. Dynamic Technology Lab Private Ltd lifted its holdings in shares of ACCO Brands by 32.5% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 16,774 shares of the industrial products company’s stock worth $200,000 after acquiring an additional 4,116 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new position in shares of ACCO Brands in the 3rd quarter worth approximately $200,000. Institutional investors own 94.90% of the company’s stock.

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ACCO Brands Company Profile

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, and whiteboards; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; stapling, punching, laminating, binding, and shredding products; do-it-yourself tools; and computer accessories and others, which are primarily used in schools, homes, and businesses.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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