Aceto Corp. (ACET) to Post Q1 2018 Earnings of $0.34 Per Share, First Analysis Forecasts
Aceto Corp. (NASDAQ:ACET) – Analysts at First Analysis reduced their Q1 2018 earnings estimates for shares of Aceto Corp. in a research report issued to clients and investors on Wednesday. First Analysis analyst S. Schwartz now anticipates that the brokerage will post earnings of $0.34 per share for the quarter, down from their previous estimate of $0.40. First Analysis has a “Equal Weight” rating and a $21.00 price target on the stock.
Aceto Corp. (NASDAQ:ACET) last issued its earnings results on Friday, November 4th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. Aceto Corp. had a net margin of 5.40% and a return on equity of 13.91%. The firm earned $128.02 million during the quarter, compared to analysts’ expectations of $132.88 million. During the same quarter last year, the firm earned $0.37 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year.
Other research analysts have also issued reports about the company. Zacks Investment Research upgraded Aceto Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Craig Hallum restated a “buy” rating on shares of Aceto Corp. in a research report on Monday, August 29th.
Shares of Aceto Corp. (NASDAQ:ACET) traded up 1.69% on Thursday, reaching $19.31. The company’s stock had a trading volume of 160,538 shares. The company has a market cap of $580.28 million, a P/E ratio of 19.12 and a beta of 1.46. The company has a 50 day moving average price of $18.65 and a 200 day moving average price of $21.44. Aceto Corp. has a 52-week low of $15.69 and a 52-week high of $28.55.
A number of hedge funds have recently modified their holdings of ACET. Catalyst Capital Advisors LLC acquired a new stake in shares of Aceto Corp. during the third quarter valued at approximately $104,000. Rational Advisors LLC acquired a new stake in shares of Aceto Corp. during the second quarter valued at approximately $125,000. Mason Street Advisors LLC acquired a new stake in shares of Aceto Corp. during the second quarter valued at approximately $127,000. BNP Paribas Arbitrage SA increased its stake in shares of 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. Finally, Palisade Capital Management LLC NJ acquired a new stake in shares of Aceto Corp. during the third quarter valued at approximately $190,000. 85.45% of the stock is currently owned by institutional investors and hedge funds.
In related 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 sale, the chairman now owns 236,649 shares of the company’s stock, valued at approximately $4,714,048.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hans C. Noetzli sold 6,000 shares of the firm’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $18.32, for a total value of $109,920.00. Following the sale, the director now directly owns 85,572 shares in the company, valued at approximately $1,567,679.04. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.
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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