Aceto (NASDAQ:ACET) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors 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. “
Other research analysts also recently issued research reports about the company. Canaccord Genuity restated a “buy” rating and set a $10.00 price target on shares of Aceto in a report on Monday. ValuEngine downgraded Aceto from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, BidaskClub upgraded Aceto from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th.
Aceto (NASDAQ:ACET) last released its earnings results on Thursday, February 1st. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Aceto had a negative net margin of 0.79% and a positive return on equity of 10.26%. The company had revenue of $171.20 million during the quarter, compared to the consensus estimate of $176.50 million. During the same period last year, the firm posted $0.24 EPS. The company’s revenue was up 36.3% on a year-over-year basis. analysts expect that Aceto will post 1.02 earnings per share for the current year.
A number of large investors have recently made changes to their positions in ACET. SG Americas Securities LLC purchased a new position in Aceto during the 3rd quarter valued at about $106,000. Teacher Retirement System of Texas purchased a new position in Aceto during the 4th quarter valued at about $108,000. Palisade Capital Management LLC NJ purchased a new position in Aceto during the 3rd quarter valued at about $131,000. BNP Paribas Arbitrage SA increased its holdings in Aceto by 73.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 14,924 shares of the company’s stock valued at $168,000 after purchasing an additional 6,316 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in Aceto during the 3rd quarter valued at about $190,000. Institutional investors own 78.41% 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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