Barrington analyst Kevin Steinke maintained a Buy rating on ACCO Brands (ACCO) today and set a price target of $13. The company’s shares opened today at $8.99.
Steinke noted:
“We expect Q4/18 to generate 37% of full-year 2018 adjusted EPS. The profitability strength in the fourth quarter is driven by back-to-school season in Brazil and Australia, as well as the strong back-to-business selling season in Europe.”
According to TipRanks.com, Steinke is a 1-star analyst with an average return of -2.1% and a 48.1% success rate. Steinke covers the Services sector, focusing on stocks such as Cross Country Healthcare, Echo Global Logistics, and Heidrick & Struggles.
Currently, the analyst consensus on ACCO Brands is a Moderate Buy with an average price target of $12.
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Based on ACCO Brands’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $35.6 million. In comparison, last year the company had a net profit of $74 million.
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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.
