Zacks Investment Research upgraded shares of Aceto Corp. (NASDAQ:ACET) from a sell rating to a hold rating in a report released on Wednesday morning.

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. “

Other research analysts have also recently issued reports about the company. Craig Hallum reaffirmed a buy rating on shares of Aceto Corp. in a research report on Monday, August 29th. First Analysis cut Aceto Corp. from an overweight rating to an equal weight rating and decreased their target price for the company from $23.00 to $21.00 in a research report on Monday, November 14th.

Shares of Aceto Corp. (NASDAQ:ACET) remained flat at $19.74 on Wednesday. The stock had a trading volume of 105,206 shares. The firm has a market cap of $593.21 million, a price-to-earnings ratio of 19.54 and a beta of 1.46. The stock has a 50-day moving average price of $18.70 and a 200-day moving average price of $21.37. Aceto Corp. has a 52-week low of $15.69 and a 52-week high of $28.55.

Aceto Corp. (NASDAQ:ACET) last released its quarterly earnings data on Friday, November 4th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The business had revenue of $128.02 million for the quarter, compared to analyst estimates of $132.88 million. Aceto Corp. had a return on equity of 13.91% and a net margin of 5.40%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 earnings per share. Equities research analysts anticipate that Aceto Corp. will post $1.51 EPS for the current fiscal year.

In other Aceto Corp. news, Chairman Albert L. Eilender sold 12,936 shares of the company’s stock in a transaction that occurred 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 sale, the chairman now directly owns 236,649 shares of the company’s stock, valued at approximately $4,714,048.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hans C. Noetzli sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were 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 of the company’s stock, valued at $1,567,679.04. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ACET. Catalyst Capital Advisors LLC acquired a new position in shares of Aceto Corp. during the third quarter worth about $104,000. Rational Advisors LLC acquired a new position in shares of Aceto Corp. during the second quarter worth about $125,000. Mason Street Advisors LLC acquired a new position in shares of Aceto Corp. during the second quarter worth about $127,000. Palisade Capital Management LLC NJ acquired a new position in shares of Aceto Corp. during the third quarter worth about $190,000. Finally, BNP Paribas Arbitrage SA increased its position 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 worth $207,000 after buying an additional 5,055 shares during the period. 86.43% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: “Aceto Corp. (ACET) Upgraded to “Hold” at Zacks Investment Research” was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another site, it was stolen and republished in violation of US and international copyright & trademark legislation. The original version of this report can be read at https://www.thecerbatgem.com/2016/11/24/aceto-corp-acet-upgraded-to-hold-at-zacks-investment-research.html.

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

Receive News & Stock Ratings for Aceto Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aceto Corp. and related stocks with our FREE daily email newsletter.