In a report released today, Kevin Steinke from Barrington reiterated a Buy rating on ACCO Brands (ACCO), with a price target of $12.00. The company’s shares closed last Friday at $8.60.
According to TipRanks.com, Steinke is a 5-star analyst with an average return of 16.9% and a 60.4% success rate. Steinke covers the Services sector, focusing on stocks such as Cross Country Healthcare, Heritage-Crystal Clean, and Heidrick & Struggles.
ACCO Brands has an analyst consensus of Moderate Buy, with a price target consensus of $12.00, implying a 38.7% upside from current levels. In a report released yesterday, Noble Financial also maintained a Buy rating on the stock with a $12.00 price target.
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Based on ACCO Brands’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $460 million and net profit of $29.8 million. In comparison, last year the company earned revenue of $537 million and had a net profit of $43.5 million.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ACCO in relation to earlier this year. Last month, Neal Fenwick, the EVP & CFO of ACCO sold 81,110 shares for a total of $675,646.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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. The ACCO Brands North America segment includes the U.S. and Canada operations, wherein it manufactures, sources, and sells traditional office products, school supplies, and calendar products. The ACCO Brands EMEA segment deals with the design, sourcing, and distribution of storage and organization products, stapling, punching, laminating, binding and shredding products, do-it-yourself tools, and computer accessories in Europe, the Middle East, and Africa. The ACCO Brands International segments refers to the operations from the rest of the world, primarily Australia/New Zealand, Latin America, and Asia-Pacific The company was founded by Fred J. Kline in 1903 and is headquartered in Lake Zurich, IL.
