Acco Brands Corporation’s (ACCO) “Hold” Rating Reaffirmed at SunTrust Banks, Inc.
Acco Brands Corporation (NYSE:ACCO)‘s stock had its “hold” rating reaffirmed by stock analysts at SunTrust Banks, Inc. in a report released on Wednesday. They currently have a $13.00 target price on the industrial products company’s stock. SunTrust Banks, Inc.’s price target would indicate a potential downside of 0.38% from the stock’s current price.
A number of other analysts have also recently weighed in on ACCO. BWS Financial reiterated a “buy” rating and set a $18.00 price target on shares of Acco Brands Corporation in a research report on Tuesday, July 4th. Zacks Investment Research cut Acco Brands Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 19th. ValuEngine cut Acco Brands Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, BidaskClub cut Acco Brands Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. 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 target price of $15.33.
Acco Brands Corporation (NYSE:ACCO) last announced its quarterly earnings results on Monday, October 30th. The industrial products company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $532.20 million for the quarter, compared to analysts’ expectations of $529.65 million. Acco Brands Corporation had a return on equity of 16.03% and a net margin of 3.51%. The business’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 EPS.
TRADEMARK VIOLATION WARNING: “Acco Brands Corporation’s (ACCO) “Hold” Rating Reaffirmed at SunTrust Banks, Inc.” was originally reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/11/01/acco-brands-corporations-acco-hold-rating-reaffirmed-at-suntrust-banks-inc.html.
In related news, insider Gregory J. Mccormack sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $10.95, for a total value of $273,750.00. Following the completion of the transaction, the insider now directly owns 63,889 shares of the company’s stock, valued at approximately $699,584.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Neal V. Fenwick acquired 12,313 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average cost of $10.60 per share, with a total value of $130,517.80. Following the completion of the acquisition, the vice president now directly owns 423,311 shares in the company, valued at $4,487,096.60. The disclosure for this purchase can be found here. Corporate insiders own 4.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ACCO. BlackRock Inc. boosted its stake in Acco Brands Corporation by 16,978.3% during the 1st quarter. BlackRock Inc. now owns 7,403,606 shares of the industrial products company’s stock valued at $97,358,000 after purchasing an additional 7,360,255 shares in the last quarter. Boston Partners bought a new stake in shares of Acco Brands Corporation during the 2nd quarter worth $20,976,000. Royal Bank of Canada boosted its stake in shares of Acco Brands Corporation by 5.9% during the 2nd quarter. Royal Bank of Canada now owns 6,122,124 shares of the industrial products company’s stock worth $71,323,000 after acquiring an additional 339,057 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Acco Brands Corporation during the 2nd quarter worth $3,266,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Acco Brands Corporation by 37.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 904,675 shares of the industrial products company’s stock worth $11,897,000 after acquiring an additional 244,178 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Acco Brands Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acco Brands Corporation and related companies with MarketBeat.com's FREE daily email newsletter.