In a report released today, Kevin Steinke from Barrington maintained a Buy rating on ACCO Brands (ACCO), with a price target of $13. The company’s shares opened today at $8.96.
Steinke wrote:
“We are reducing our 12-month price target to $13 (from $16), which assumes an EV/NTM EBITDA multiple of 6.5x. Following the sell-off after Q3/18 results, the stock now trades at an EV/NTM EBITDA multiple of 6.0x (based on our estimates). Our rating remains OUTPERFORM.”
According to TipRanks.com, Steinke is a 1-star analyst with an average return of -1.4% and a 42.0% 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 $13.
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ACCO Brands’ market cap is currently $919.2M and has a P/E ratio of 6.63. The company has a Price to Book ratio of 1.23.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative 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.
