Acco Brands Corp. (ACCO) Downgraded by Zacks Investment Research to Hold
Acco Brands Corp. (NYSE:ACCO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
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. “
Acco Brands Corp. (NYSE:ACCO) traded up 1.262% during trading on Tuesday, hitting $9.225. 288,317 shares of the company were exchanged. The company has a 50-day moving average of $9.71 and a 200-day moving average of $9.93. Acco Brands Corp. has a 12 month low of $5.47 and a 12 month high of $11.75. The company has a market capitalization of $988.86 million, a price-to-earnings ratio of 7.643 and a beta of 1.96.
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Acco Brands Corp. (NYSE:ACCO) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $410.10 million for the quarter, compared to the consensus estimate of $390.75 million. Acco Brands Corp. had a net margin of 8.63% and a return on equity of 14.64%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Analysts forecast that Acco Brands Corp. will post $0.83 EPS for the current year.
A number of institutional investors have recently made changes to their positions in ACCO. Societe Generale acquired a new position in shares of Acco Brands Corp. during the second quarter worth about $110,000. SG Americas Securities LLC acquired a new position in shares of Acco Brands Corp. during the second quarter worth about $110,000. BNP Paribas Arbitrage SA boosted its position in shares of Acco Brands Corp. by 68.0% in the third quarter. BNP Paribas Arbitrage SA now owns 11,558 shares of the company’s stock worth $111,000 after buying an additional 4,680 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of 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. Finally, Teacher Retirement System of Texas boosted its position in shares of 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. Institutional investors own 94.21% of the company’s stock.
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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