Zacks Investment Research Downgrades Acco Brands Corp. (ACCO) 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 to investors 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 midday trading on Tuesday, reaching $9.225. The company’s stock had a trading volume of 288,317 shares. The company’s 50-day moving average is $9.71 and its 200 day moving average is $9.93. Acco Brands Corp. has a 12-month low of $5.47 and a 12-month high of $11.75. The firm has a market cap 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 announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $410.10 million for the quarter, compared to the consensus estimate of $390.75 million. During the same period in the previous year, the business earned $0.24 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. Equities analysts forecast that Acco Brands Corp. will post $0.83 earnings per share for the current year.
Several large investors have recently modified their holdings of the company. Societe Generale purchased a new stake in shares of Acco Brands Corp. during the second quarter valued at about $110,000. SG Americas Securities LLC purchased a new stake in shares of Acco Brands Corp. during the second quarter valued at about $110,000. BNP Paribas Arbitrage SA boosted its stake 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 valued at $111,000 after buying an additional 4,680 shares during the period. Tower Research Capital LLC TRC boosted its stake 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 valued at $121,000 after buying an additional 9,042 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake 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 valued at $154,000 after buying an additional 1,802 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.
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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