Aceto Corp. (NASDAQ:ACET) – Equities researchers at Craig Hallum cut their Q2 2017 EPS estimates for Aceto Corp. in a research note issued to investors on Monday. Craig Hallum analyst M. Hewitt now anticipates that the firm will post earnings of $0.29 per share for the quarter, down from their prior forecast of $0.34. Craig Hallum has a “Buy” rating on the stock. Craig Hallum also issued estimates for Aceto Corp.’s FY2017 earnings at $1.40 EPS and FY2018 earnings at $1.61 EPS.

Aceto Corp. (NASDAQ:ACET) last released its earnings results on Friday, November 4th. The company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The company had revenue of $128.02 million for the quarter, compared to analysts’ expectations of $132.88 million. Aceto Corp. had a net margin of 5.40% and a return on equity of 13.91%. Aceto Corp.’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share.

Earnings History and Estimates for Aceto Corp. (NASDAQ:ACET)

Separately, Zacks Investment Research raised Aceto Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd.

Aceto Corp. (NASDAQ:ACET) traded up 3.40% during trading on Wednesday, reaching $18.84. The company had a trading volume of 28,841 shares. Aceto Corp. has a 52 week low of $15.69 and a 52 week high of $28.60. The firm has a market capitalization of $566.16 million, a P/E ratio of 18.65 and a beta of 1.46. The stock has a 50 day moving average price of $18.71 and a 200 day moving average price of $21.62.

In other Aceto Corp. news, Chairman Albert L. Eilender sold 12,936 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $19.92, for a total value of $257,685.12. Following the sale, the chairman now directly owns 236,649 shares of the company’s stock, valued at $4,714,048.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Steven Rogers sold 2,167 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $20.04, for a total transaction of $43,426.68. Following the completion of the sale, the senior vice president now directly owns 20,443 shares in the company, valued at $409,677.72. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Northern Trust Corp raised its stake in Aceto Corp. by 7.5% in the third quarter. Northern Trust Corp now owns 1,362,786 shares of the company’s stock valued at $25,879,000 after buying an additional 95,451 shares during the last quarter. California State Teachers Retirement System raised its stake in Aceto Corp. by 0.8% in the third quarter. California State Teachers Retirement System now owns 61,607 shares of the company’s stock valued at $1,170,000 after buying an additional 500 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Aceto Corp. by 8.1% in the third quarter. Ameriprise Financial Inc. now owns 277,697 shares of the company’s stock valued at $5,273,000 after buying an additional 20,882 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Aceto Corp. by 78.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 79,060 shares of the company’s stock valued at $1,502,000 after buying an additional 34,650 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Aceto Corp. by 2.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 716,938 shares of the company’s stock valued at $13,615,000 after buying an additional 16,932 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

Aceto Corp. Company Profile

Aceto Corporation (Aceto) is engaged in marketing, sales and distribution of finished dosage form generic pharmaceuticals, nutraceutical products, pharmaceutical active ingredients and intermediates, specialty performance chemicals inclusive of agricultural intermediates and agricultural protection products.

5 Day Chart for NASDAQ:ACET

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