ACCO Brands (NYSE:ACCO) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of ACCO Brands (NYSE:ACCO) from a hold rating to a buy rating in a research report report published on Wednesday, January 3rd. The brokerage currently has $14.00 target price on the industrial products company’s stock.
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. “
Other equities research analysts also recently issued reports about the stock. BidaskClub raised shares of ACCO Brands from a hold rating to a buy rating in a research note on Friday, October 13th. SunTrust Banks reaffirmed a hold rating and set a $13.00 target price on shares of ACCO Brands in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. ACCO Brands currently has a consensus rating of Buy and an average price target of $15.00.
A number of institutional investors and hedge funds have recently made changes to their positions in ACCO. DekaBank Deutsche Girozentrale grew its holdings in ACCO Brands by 78.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,112 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 4,002 shares in the last quarter. Victory Capital Management Inc. grew its holdings in ACCO Brands by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 9,558 shares of the industrial products company’s stock worth $111,000 after acquiring an additional 1,433 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in ACCO Brands by 12.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,496 shares of the industrial products company’s stock worth $111,000 after acquiring an additional 1,014 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in ACCO Brands during the 3rd quarter worth approximately $120,000. Finally, Virginia Retirement Systems ET AL grew its holdings in ACCO Brands by 4.0% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 10,500 shares of the industrial products company’s stock worth $122,000 after acquiring an additional 400 shares in the last quarter. 91.34% of the stock is currently owned by hedge funds and other institutional investors.
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ACCO Brands 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.
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