In a report released today, Joe Gomes from Noble Financial maintained a Buy rating on ACCO Brands (ACCO – Research Report), with a price target of $10.00. The company’s shares closed last Tuesday at $8.83, close to its 52-week high of $9.84.
According to TipRanks.com, Gomes is a 5-star analyst with an average return of 37.1% and a 66.2% success rate. Gomes covers the Services sector, focusing on stocks such as Information Services Group, Kelly Services, and DLH Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ACCO Brands with a $11.00 average price target, implying a 22.1% upside from current levels. In a report issued on February 12, Barrington also maintained a Buy rating on the stock with a $12.00 price target.
The company has a one-year high of $9.84 and a one-year low of $3.51. Currently, ACCO Brands has an average volume of 495.3K.
Based on the recent corporate insider activity of 31 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. Most recently, in November 2020, Ralph Paul Hargrow, the Sr VP & Chief People Officer of ACCO sold 23,965 shares for a total of $194,596.
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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. 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.