In a report released today, Kevin Steinke from Barrington maintained a Buy rating on ACCO Brands (NYSE: ACCO), with a price target of $16. The company’s shares opened today at $13.20.
Steinke wrote:
“We believe that management is interested in pursuing additional acquisitions in Latin America, both within countries where the company already operates (Brazil, Mexico and Chile), as well as expansion into new Latin American countries. ACCO is also interested in continuing to build its presence in the faster‐growing consumer and school product segments, as well as building and acquiring branded products that have demand driven by the ultimate end‐user. The GOBA Internacional acquisition fits these objectives, as ACCO noted that GOBA possesses leading brands in consumer and school products such as and Acme. As such, this acquisition is largely about growth opportunities as opposed to cost synergies.”
According to TipRanks.com, Steinke is a 3-star analyst with an average return of 6.9% and a 56.9% success rate. Steinke covers the Services sector, focusing on stocks such as Cross Country Healthcare, Echo Global Logistics, and Heidrick & Struggles.
ACCO Brands has an analyst consensus of Moderate Buy, with a price target consensus of $17.
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ACCO Brands’ market cap is currently $1.42B and has a P/E ratio of 10.48. The company has a Price to Book ratio of 1.86.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is neutral on the stock.
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ACCO Brands Corp. engages in the manufacture and marketing of office, school, calendar products and select computer and electronic accessories. It operates through the followings segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International.
