Aceto Corp. (ACET) to Post Q2 2017 Earnings of $0.46 Per Share, First Analysis Forecasts
Aceto Corp. (NASDAQ:ACET) – Equities research analysts at First Analysis lifted their Q2 2017 EPS estimates for shares of Aceto Corp. in a research note issued on Sunday. First Analysis analyst S. Schwartz now anticipates that the firm will earn $0.46 per share for the quarter, up from their previous forecast of $0.33. First Analysis has a “Equal Weight” rating and a $21.00 price target on the stock. First Analysis also issued estimates for Aceto Corp.’s Q3 2017 earnings at $0.41 EPS, Q4 2017 earnings at $0.43 EPS, FY2017 earnings at $1.58 EPS and FY2018 earnings at $1.73 EPS.
Aceto Corp. (NASDAQ:ACET) last issued its quarterly earnings data on Friday, November 4th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Aceto Corp. had a return on equity of 13.91% and a net margin of 5.40%. The firm earned $128.02 million during the quarter, compared to the consensus estimate of $132.88 million. During the same period in the previous year, the firm earned $0.37 EPS. The business’s revenue was down 4.1% on a year-over-year basis.
Several other analysts have also recently issued reports on ACET. Zacks Investment Research raised Aceto Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Craig Hallum reaffirmed a “buy” rating on shares of Aceto Corp. in a research report on Monday, August 29th.
Shares of Aceto Corp. (NASDAQ:ACET) opened at 18.99 on Wednesday. The firm’s 50-day moving average price is $18.66 and its 200 day moving average price is $21.45. Aceto Corp. has a 12-month low of $15.69 and a 12-month high of $28.55. The company has a market cap of $570.67 million, a price-to-earnings ratio of 18.80 and a beta of 1.46.
Institutional investors have recently modified their holdings of the company. TIAA CREF Investment Management LLC raised its position in shares of Aceto Corp. by 10.8% in the first quarter. TIAA CREF Investment Management LLC now owns 132,047 shares of the company’s stock worth $3,111,000 after buying an additional 12,886 shares during the period. Prudential Financial Inc. raised its position in shares of Aceto Corp. by 2.8% in the first quarter. Prudential Financial Inc. now owns 70,671 shares of the company’s stock worth $1,665,000 after buying an additional 1,900 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Aceto Corp. by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 708,695 shares of the company’s stock worth $16,697,000 after buying an additional 2,305 shares during the period. JPMorgan Chase & Co. raised its position in shares of Aceto Corp. by 13.8% in the first quarter. JPMorgan Chase & Co. now owns 223,008 shares of the company’s stock worth $5,254,000 after buying an additional 27,070 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Aceto Corp. by 57.2% in the first quarter. Goldman Sachs Group Inc. now owns 47,926 shares of the company’s stock worth $1,129,000 after buying an additional 17,441 shares during the period. Institutional investors own 85.45% of the company’s stock.
In other news, SVP Steven Rogers sold 2,167 shares of the stock in a transaction on Tuesday, September 6th. The stock was 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 owns 20,443 shares in the company, valued at approximately $409,677.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charles John Alaimo sold 2,567 shares of the stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $19.85, for a total value of $50,954.95. Following the sale, the insider now owns 20,255 shares of the company’s stock, valued at approximately $402,061.75. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.
About Aceto Corp.
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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