Aceto (ACET) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Aceto (NASDAQ:ACET) from a strong sell rating to a hold rating in a report released on Tuesday.
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. “
ACET has been the topic of a number of other research reports. BidaskClub upgraded Aceto from a strong sell rating to a sell rating in a research note on Thursday, January 4th. ValuEngine upgraded Aceto from a hold rating to a buy rating in a research note on Wednesday, September 13th. Finally, Canaccord Genuity set a $15.00 price target on Aceto and gave the company a buy rating in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Aceto currently has an average rating of Hold and a consensus price target of $15.00.
Aceto (NASDAQ:ACET) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.28 by $0.02. The company had revenue of $185.26 million during the quarter, compared to the consensus estimate of $190.58 million. Aceto had a return on equity of 10.18% and a net margin of 1.07%. The firm’s revenue for the quarter was up 44.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 EPS. equities analysts predict that Aceto will post 1.07 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Monday, December 18th were paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Friday, December 15th. Aceto’s dividend payout ratio (DPR) is presently 123.81%.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its stake in Aceto by 308.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 101,950 shares of the company’s stock valued at $1,145,000 after acquiring an additional 77,000 shares during the period. Royce & Associates LP increased its position in Aceto by 537.8% during the 3rd quarter. Royce & Associates LP now owns 934,943 shares of the company’s stock worth $10,499,000 after buying an additional 788,343 shares during the period. Engineers Gate Manager LP bought a new position in Aceto during the 3rd quarter worth $749,000. OxFORD Asset Management LLP bought a new position in Aceto during the 3rd quarter worth $520,000. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in Aceto during the 3rd quarter worth $190,000. Institutional investors and hedge funds own 80.84% of the company’s stock.
Aceto Company Profile
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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