Today The Acco Brands Corporation (ACCO) Now Covered by BWS Financial

Today The Acco Brands Corporation (ACCO) Now Covered by BWS Financial

Stock analysts at BWS Financial started coverage on shares of Acco Brands Corporation (NYSE:ACCO) in a report released on Wednesday. The brokerage set a “buy” rating and a $18.00 price target on the stock. BWS Financial’s price target would suggest a potential upside of 41.18% from the company’s current price.

Separately, Zacks Investment Research cut Acco Brands Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 18th.

Shares of Acco Brands Corporation (NYSE:ACCO) traded up 2.35% on Wednesday, reaching $13.05. 123,369 shares of the company traded hands. The firm has a 50-day moving average of $13.07 and a 200-day moving average of $11.20. Acco Brands Corporation has a 52-week low of $5.79 and a 52-week high of $14.00. The company has a market capitalization of $1.40 billion, a PE ratio of 11.73 and a beta of 1.55.

Acco Brands Corporation (NYSE:ACCO) last released its quarterly earnings results on Monday, October 24th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Acco Brands Corporation had a return on equity of 13.86% and a net margin of 7.89%. The company earned $431.30 million during the quarter, compared to analysts’ expectations of $432.25 million. During the same quarter in the prior year, the business posted $0.28 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Acco Brands Corporation will post $0.85 earnings per share for the current fiscal year.

In related news, VP Neal V. Fenwick sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $12.59, for a total transaction of $157,375.00. Following the completion of the transaction, the vice president now owns 343,955 shares of the company’s stock, valued at $4,330,393.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can purchased a new position in shares of Acco Brands Corporation during the second quarter valued at $3,299,000. ClariVest Asset Management LLC boosted its position in shares of Acco Brands Corporation by 0.6% in the second quarter. ClariVest Asset Management LLC now owns 364,226 shares of the company’s stock valued at $3,762,000 after buying an additional 2,148 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Acco Brands Corporation 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 in the last quarter. Vanguard Group Inc. boosted its position in shares of Acco Brands Corporation by 5.9% in the second quarter. Vanguard Group Inc. now owns 9,028,339 shares of the company’s stock valued at $93,263,000 after buying an additional 504,681 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Acco Brands Corporation 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 in the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.

About Acco Brands Corporation

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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