Acco Brands (NYSE:ACCO) Rating Increased to Buy at Wall Street Zen

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

Separately, Weiss Ratings upgraded shares of Acco Brands from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.00.

Acco Brands Stock Up 1.4%

Acco Brands stock opened at $4.12 on Friday. The stock’s 50 day moving average price is $3.88 and its 200 day moving average price is $3.83. Acco Brands has a 1-year low of $3.20 and a 1-year high of $5.68. The company has a market cap of $370.93 million, a PE ratio of 9.80, a price-to-earnings-growth ratio of 0.39 and a beta of 1.09. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.68 and a quick ratio of 0.96.

Hedge Funds Weigh In On Acco Brands

Several hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co lifted its stake in Acco Brands by 51.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 9,618 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 3,288 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Acco Brands by 1.7% in the fourth quarter. Stifel Financial Corp now owns 442,348 shares of the industrial products company’s stock valued at $1,650,000 after buying an additional 7,491 shares in the last quarter. Advyzon Investment Management LLC lifted its position in shares of Acco Brands by 97.2% during the 4th quarter. Advyzon Investment Management LLC now owns 96,557 shares of the industrial products company’s stock valued at $360,000 after acquiring an additional 47,592 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Acco Brands by 27.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,148,160 shares of the industrial products company’s stock valued at $11,743,000 after purchasing an additional 682,260 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Acco Brands by 35.3% in the 4th quarter. Wells Fargo & Company MN now owns 128,232 shares of the industrial products company’s stock valued at $478,000 after purchasing an additional 33,474 shares during the period. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

About Acco Brands

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.