Aceto (ACET) Rating Increased to Sell at BidaskClub

Aceto (NASDAQ:ACET) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Thursday.

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity set a $15.00 price target on shares of Aceto and gave the stock a “buy” rating in a research note on Monday, October 30th. ValuEngine upgraded shares of Aceto from a “hold” rating to a “buy” rating in a research note on Wednesday, September 13th. Finally, Zacks Investment Research upgraded shares of Aceto from a “strong sell” rating to a “hold” rating in a research note on Monday, October 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $15.00.

Aceto (NASDAQ ACET) opened at $10.70 on Thursday. The stock has a market cap of $323.07, a PE ratio of 8.94, a P/E/G ratio of 1.00 and a beta of 1.38. Aceto has a one year low of $8.29 and a one year high of $22.36. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.06 and a quick ratio of 1.46.

Aceto (NASDAQ:ACET) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.02. The company had revenue of $185.26 million for the quarter, compared to analysts’ expectations of $190.58 million. Aceto had a net margin of 1.07% and a return on equity of 10.18%. Aceto’s revenue was up 44.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. analysts expect that Aceto will post 1.07 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC lifted its stake in Aceto by 308.6% during 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 lifted its stake in Aceto by 537.8% during the 3rd quarter. Royce & Associates LP now owns 934,943 shares of the company’s stock valued at $10,499,000 after acquiring an additional 788,343 shares during the period. Engineers Gate Manager LP bought a new position in Aceto during the 3rd quarter valued at about $749,000. OxFORD Asset Management LLP bought a new position in Aceto during the 3rd quarter valued at about $520,000. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in Aceto during the 3rd quarter valued at about $190,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

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About Aceto

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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