Aceto Corporation (ACET) Stock Rating Upgraded by Zacks Investment Research

Aceto Corporation (NASDAQ:ACET) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Monday.

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. “

Several other brokerages have also weighed in on ACET. Canaccord Genuity assumed coverage on shares of Aceto Corporation in a research report on Monday, July 31st. They issued a “buy” rating and a $19.00 price objective on the stock. BidaskClub lowered shares of Aceto Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, ValuEngine raised shares of Aceto Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, September 13th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Aceto Corporation has a consensus rating of “Hold” and a consensus price target of $18.00.

Aceto Corporation (NASDAQ ACET) opened at 10.07 on Monday. Aceto Corporation has a one year low of $9.88 and a one year high of $22.46. The company has a 50-day moving average of $11.04 and a 200 day moving average of $13.80. The company has a market cap of $303.20 million, a P/E ratio of 28.77 and a beta of 1.35.

Aceto Corporation (NASDAQ:ACET) last announced its quarterly earnings results on Thursday, August 24th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.17). The firm had revenue of $194.60 million during the quarter, compared to analyst estimates of $184.49 million. Aceto Corporation had a net margin of 1.78% and a return on equity of 10.21%. The business’s revenue was up 43.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. Equities research analysts predict that Aceto Corporation will post $1.28 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This news story was first reported by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another site, it was copied illegally and reposted in violation of US and international trademark and copyright law. The correct version of this news story can be viewed at https://www.com-unik.info/2017/11/01/aceto-corporation-acet-stock-rating-upgraded-by-zacks-investment-research.html.

In related news, Chairman Albert L. Eilender sold 9,530 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $10.47, for a total transaction of $99,779.10. Following the transaction, the chairman now directly owns 307,028 shares of the company’s stock, valued at $3,214,583.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Walter J. Kaczmarek III sold 2,635 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $10.57, for a total transaction of $27,851.95. Following the transaction, the chief operating officer now directly owns 72,817 shares in the company, valued at $769,675.69. The disclosure for this sale can be found here. Insiders sold 26,283 shares of company stock worth $275,189 over the last three months. Insiders own 4.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ACET. Karp Capital Management Corp bought a new position in Aceto Corporation during the first quarter worth about $214,000. Parametric Portfolio Associates LLC increased its position in Aceto Corporation by 82.5% during the first quarter. Parametric Portfolio Associates LLC now owns 24,859 shares of the company’s stock worth $393,000 after acquiring an additional 11,240 shares during the period. Prudential Financial Inc. increased its position in Aceto Corporation by 11.7% during the first quarter. Prudential Financial Inc. now owns 58,591 shares of the company’s stock worth $926,000 after acquiring an additional 6,150 shares during the period. Arizona State Retirement System increased its position in Aceto Corporation by 1.3% during the first quarter. Arizona State Retirement System now owns 15,649 shares of the company’s stock worth $247,000 after acquiring an additional 200 shares during the period. Finally, OppenheimerFunds Inc. increased its position in Aceto Corporation by 69.2% during the first quarter. OppenheimerFunds Inc. now owns 27,507 shares of the company’s stock worth $435,000 after acquiring an additional 11,252 shares during the period. 80.85% of the stock is currently owned by institutional investors and hedge funds.

About Aceto Corporation

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.

What are top analysts saying about Aceto Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Aceto Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit