Aceto Corp. (NASDAQ:ACET) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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. “
A number of other analysts have also weighed in on ACET. First Analysis lowered shares of Aceto Corp. from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $23.00 to $21.00 in a research note on Monday, November 14th. Craig Hallum reiterated a “buy” rating on shares of Aceto Corp. in a research note on Monday, August 29th.
Shares of Aceto Corp. (NASDAQ:ACET) opened at 19.74 on Wednesday. The firm has a 50-day moving average of $18.70 and a 200 day moving average of $21.37. The stock has a market cap of $593.21 million, a PE ratio of 19.54 and a beta of 1.46. Aceto Corp. has a 52 week low of $15.69 and a 52 week high of $28.55.
Aceto Corp. (NASDAQ:ACET) last posted its quarterly earnings results on Friday, November 4th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. The company earned $128.02 million during the quarter, compared to analysts’ expectations of $132.88 million. Aceto Corp. had a return on equity of 13.91% and a net margin of 5.40%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. On average, equities analysts forecast that Aceto Corp. will post $1.51 EPS for the current fiscal year.
In related news, Director Hans C. Noetzli sold 6,000 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $18.32, for a total transaction of $109,920.00. Following the sale, the director now owns 85,572 shares in the company, valued at $1,567,679.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Albert L. Eilender sold 12,936 shares of the firm’s stock in a transaction on Tuesday, September 6th. The shares were 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 in the company, valued at approximately $4,714,048.08. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its stake in Aceto Corp. by 0.4% in the second quarter. Rhumbline Advisers now owns 37,684 shares of the company’s stock valued at $825,000 after buying an additional 150 shares in the last quarter. Arizona State Retirement System raised its stake in Aceto Corp. by 2.0% in the second quarter. Arizona State Retirement System now owns 15,349 shares of the company’s stock valued at $336,000 after buying an additional 300 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Aceto Corp. by 4.7% in the second quarter. Parametric Portfolio Associates LLC now owns 10,481 shares of the company’s stock valued at $229,000 after buying an additional 473 shares in the last quarter. California State Teachers Retirement System raised its stake in Aceto Corp. by 0.8% in the third quarter. California State Teachers Retirement System now owns 61,607 shares of the company’s stock valued at $1,170,000 after buying an additional 500 shares in the last quarter. Finally, BlackRock Advisors LLC raised its stake in Aceto Corp. by 3.8% in the second quarter. BlackRock Advisors LLC now owns 14,042 shares of the company’s stock valued at $307,000 after buying an additional 516 shares in the last quarter. Institutional investors own 86.43% of the company’s stock.
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.