Aceto Corp. (ACET) Upgraded to Hold by Zacks Investment Research
According to Zacks, “Aceto Corporation markets, sells and distributes finished dosage form generics, nutraceutical products, pharmaceutical intermediates and active ingredients, agricultural protection products and specialty chemicals. The company’s operating segment consists of Human Health, Pharmaceutical Ingredients and Performance Chemicals. Human Health segment supplies raw materials used in the production of nutritional and packaged dietary supplements. It markets and distributes its generic prescription and over the counter pharmaceutical products. Pharmaceutical Ingredients segment offers active pharmaceutical ingredients and pharmaceutical intermediates. Performance Chemicals segment provides specialty chemicals. It serves chemical, agricultural, human health and pharmaceutical industries. The company operates primarily in United States, Europe, and Asia. Aceto Corporation and is headquartered in Port Washington, New York. “
Several other analysts have also recently commented on the company. Craig Hallum reissued a buy rating on shares of Aceto Corp. in a report on Monday, August 29th. First Analysis cut Aceto Corp. from an overweight rating to an equal weight rating and reduced their price target for the company from $23.00 to $21.00 in a report on Monday.
Shares of Aceto Corp. (NASDAQ:ACET) traded down 1.98% during mid-day trading on Wednesday, hitting $18.80. The company had a trading volume of 124,428 shares. Aceto Corp. has a 12 month low of $15.69 and a 12 month high of $28.55. The firm has a 50-day moving average price of $18.67 and a 200 day moving average price of $21.47. The firm has a market capitalization of $564.96 billion, a P/E ratio of 18.43 and a beta of 1.46.
Aceto Corp. (NASDAQ:ACET) last posted its quarterly earnings data on Friday, November 4th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. Aceto Corp. had a return on equity of 13.91% and a net margin of 5.40%. The company had revenue of $128.02 million for the quarter, compared to analyst estimates of $132.88 million. During the same period in the previous year, the business posted $0.37 earnings per share. The firm’s revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts forecast that Aceto Corp. will post $1.51 earnings per share for the current fiscal year.
In other Aceto Corp. news, Chairman Albert L. Eilender sold 12,936 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $19.92, for a total transaction of $257,685.12. Following the completion of the transaction, the chairman now owns 236,649 shares of the company’s stock, valued at $4,714,048.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Steven Rogers sold 2,167 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $20.04, for a total value of $43,426.68. Following the transaction, the senior vice president now directly owns 20,443 shares of the company’s stock, valued at approximately $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 institutional investors have recently added to or reduced their stakes in ACET. Catalyst Capital Advisors LLC bought a new position in Aceto Corp. during the third quarter valued at $104,000. Rational Advisors LLC bought a new position in Aceto Corp. during the second quarter valued at $125,000. Mason Street Advisors LLC bought a new position in Aceto Corp. during the second quarter valued at $127,000. Palisade Capital Management LLC NJ bought a new position in Aceto Corp. during the third quarter valued at $190,000. Finally, BNP Paribas Arbitrage SA increased its position in Aceto Corp. by 115.2% in the second quarter. BNP Paribas Arbitrage SA now owns 9,442 shares of the company’s stock valued at $207,000 after buying an additional 5,055 shares during the last quarter. 85.45% of the stock is 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.
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