Barrington Maintains Their Buy Rating on ACCO Brands (ACCO)

By Ryan Adsit

Barrington analyst Kevin Steinke maintained a Buy rating on ACCO Brands (ACCOResearch Report) 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.

See today’s analyst top recommended stocks >>

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.

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.