Zacks: Aceto Co. (ACET) Receives Average Rating of “” from Brokerages
Aceto Co. (NASDAQ:ACET) has been assigned an average broker rating score of 0.00 () from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating.
Brokers have set a 1-year consensus price objective of $19.50 for the company and are expecting that the company will post $0.43 EPS for the current quarter, according to Zacks. Zacks has also assigned Aceto an industry rank of 161 out of 265 based on the ratings given to related companies.
A number of equities research analysts have weighed in on ACET shares. Zacks Investment Research downgraded Aceto from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 8th. TheStreet downgraded Aceto from a “b-” rating to a “c” rating in a report on Friday, February 3rd. Craig Hallum downgraded Aceto from a “buy” rating to a “hold” rating in a report on Friday, February 3rd. Finally, First Analysis downgraded Aceto from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 31st.
Aceto (NASDAQ:ACET) opened at 14.90 on Thursday. The firm’s 50-day moving average price is $15.85 and its 200-day moving average price is $18.74. Aceto has a 52 week low of $14.66 and a 52 week high of $25.98. The company has a market capitalization of $448.68 million, a price-to-earnings ratio of 21.10 and a beta of 1.50.
Aceto (NASDAQ:ACET) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $125.60 million for the quarter, compared to analyst estimates of $136.65 million. Aceto had a net margin of 3.84% and a return on equity of 11.70%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, equities analysts expect that Aceto will post $1.50 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Wednesday, March 8th. Aceto’s dividend payout ratio (DPR) is currently 36.62%.
In other news, insider Frank Debenedittis sold 3,600 shares of Aceto stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $14.94, for a total value of $53,784.00. Following the completion of the transaction, the insider now owns 82,625 shares in the company, valued at $1,234,417.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Champlain Investment Partners LLC boosted its position in Aceto by 58.3% in the fourth quarter. Champlain Investment Partners LLC now owns 1,244,600 shares of the company’s stock worth $27,344,000 after buying an additional 458,345 shares during the period. Denver Investment Advisors LLC boosted its position in Aceto by 23.5% in the fourth quarter. Denver Investment Advisors LLC now owns 943,860 shares of the company’s stock worth $20,736,000 after buying an additional 179,721 shares during the period. BlackRock Fund Advisors boosted its position in Aceto by 7.9% in the third quarter. BlackRock Fund Advisors now owns 2,069,486 shares of the company’s stock worth $39,300,000 after buying an additional 150,818 shares during the period. Dimensional Fund Advisors LP boosted its position in Aceto by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,177,457 shares of the company’s stock worth $47,839,000 after buying an additional 125,913 shares during the period. Finally, Sio Capital Management LLC purchased a new position in Aceto during the third quarter worth about $2,199,000. Institutional investors own 85.95% of the company’s stock.
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Aceto Corporation (Aceto) is engaged in the 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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