ACCO Brands (NYSE:ACCO) Price Target Cut to $7.00 by Analysts at Barrington Research

ACCO Brands (NYSE:ACCO) had its target price cut by Barrington Research from $7.50 to $7.00 in a report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Separately, StockNews.com downgraded ACCO Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th.

ACCO Brands Stock Performance

ACCO stock opened at $4.53 on Tuesday. The firm has a market cap of $420.28 million, a PE ratio of -4.27, a P/E/G ratio of 0.37 and a beta of 1.68. The company has a quick ratio of 0.94, a current ratio of 1.60 and a debt-to-equity ratio of 1.38. The business has a 50 day moving average of $5.20 and a 200-day moving average of $5.38. ACCO Brands has a 12-month low of $4.30 and a 12-month high of $6.43.

ACCO Brands (NYSE:ACCO) last released its earnings results on Thursday, February 20th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $448.10 million during the quarter, compared to the consensus estimate of $455.06 million. ACCO Brands had a negative net margin of 6.10% and a positive return on equity of 14.96%. As a group, sell-side analysts expect that ACCO Brands will post 1.02 earnings per share for the current year.

ACCO Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 6.63%. ACCO Brands’s payout ratio is -28.30%.

Institutional Investors Weigh In On ACCO Brands

Several institutional investors have recently made changes to their positions in ACCO. Assenagon Asset Management S.A. lifted its position in shares of ACCO Brands by 21.8% during the third quarter. Assenagon Asset Management S.A. now owns 998,189 shares of the industrial products company’s stock worth $5,460,000 after acquiring an additional 178,921 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of ACCO Brands during the third quarter worth $86,000. Stephens Inc. AR purchased a new stake in shares of ACCO Brands during the third quarter worth $131,000. Capital Management Corp VA lifted its position in shares of ACCO Brands by 14.3% during the third quarter. Capital Management Corp VA now owns 3,526,095 shares of the industrial products company’s stock worth $19,288,000 after acquiring an additional 439,810 shares in the last quarter. Finally, Easterly Investment Partners LLC lifted its position in shares of ACCO Brands by 20.0% during the third quarter. Easterly Investment Partners LLC now owns 222,762 shares of the industrial products company’s stock worth $1,219,000 after acquiring an additional 37,157 shares in the last quarter. Hedge funds and other institutional investors own 84.56% of the company’s stock.

ACCO Brands Company Profile

ACCO Brands Corporation designs, manufactures, and markets consumer, school, technology, and office products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company provides computer and gaming accessories, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; sheet protectors and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.