Acco Brands (NYSE:ACCO) Upgraded by Wall Street Zen to Buy Rating

Acco Brands (NYSE:ACCO) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Separately, Weiss Ratings raised Acco Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Acco Brands Trading Up 1.4%

NYSE ACCO opened at $4.12 on Friday. The firm’s 50 day moving average price is $3.88 and its two-hundred day moving average price is $3.83. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.96 and a current ratio of 1.68. Acco Brands has a twelve month low of $3.20 and a twelve month high of $5.68. The stock has a market cap of $370.93 million, a price-to-earnings ratio of 9.80, a PEG ratio of 0.39 and a beta of 1.09.

Institutional Trading of Acco Brands

Several large investors have recently added to or reduced their stakes in ACCO. Allspring Global Investments Holdings LLC raised its holdings in shares of Acco Brands by 2.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,649,602 shares of the industrial products company’s stock valued at $28,227,000 after purchasing an additional 186,110 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Acco Brands by 1.8% in the third quarter. Vanguard Group Inc. now owns 6,237,515 shares of the industrial products company’s stock worth $24,888,000 after purchasing an additional 107,480 shares in the last quarter. Capital Management Corp VA increased its position in Acco Brands by 2.0% during the third quarter. Capital Management Corp VA now owns 6,030,001 shares of the industrial products company’s stock worth $24,060,000 after buying an additional 118,420 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Acco Brands by 27.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,148,160 shares of the industrial products company’s stock worth $11,743,000 after buying an additional 682,260 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Acco Brands by 10.2% during the second quarter. American Century Companies Inc. now owns 2,774,426 shares of the industrial products company’s stock valued at $9,932,000 after buying an additional 257,144 shares in the last quarter. 84.56% of the stock is owned by institutional investors.

Acco Brands Company Profile

Acco Brands Corporation is a global provider of branded office and school supplies, serving consumers, educational institutions and commercial customers. Headquartered in Lake Zurich, Illinois, the company designs, manufactures and distributes a wide range of products that enhance productivity and organization in work and learning environments.

The company’s portfolio includes staplers, hole punches, binding and laminating systems, writing tools, binders, folders and desktop accessories under well-known names such as ACCO, Swingline, GBC, Kensington, Mead and Five Star.