Aceto Corp. (NASDAQ:ACET) has earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.
Brokers have set a 1 year consensus price target of $30.00 for the company and are expecting that the company will post $0.29 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Aceto Corp. an industry rank of 93 out of 265 based on the ratings given to its competitors.
Several equities analysts recently weighed in on ACET shares. Craig Hallum restated a “buy” rating on shares of Aceto Corp. in a report on Monday, August 29th. Zacks Investment Research lowered shares of Aceto Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th.
Shares of Aceto Corp. (NASDAQ:ACET) opened at 18.99 on Tuesday. Aceto Corp. has a one year low of $18.25 and a one year high of $32.20. The company has a 50-day moving average of $20.86 and a 200-day moving average of $22.48. The company has a market capitalization of $563.02 million, a PE ratio of 16.09 and a beta of 1.36.
Aceto Corp. (NASDAQ:ACET) last announced its quarterly earnings data on Thursday, August 25th. The company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.04. Aceto Corp. had a net margin of 6.22% and a return on equity of 15.39%. The business earned $135.40 million during the quarter, compared to analyst estimates of $146.71 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. The company’s quarterly revenue was down 7.6% on a year-over-year basis. On average, analysts anticipate that Aceto Corp. will post $1.50 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Friday, September 9th were issued a $0.065 dividend. This is a positive change from Aceto Corp.’s previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a yield of 1.37%. The ex-dividend date was Wednesday, September 7th. Aceto Corp.’s dividend payout ratio is currently 22.03%.
In related news, CEO Salvatore J. Sr Guccione, Sr. sold 10,945 shares of the stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $23.25, for a total value of $254,471.25. Following the transaction, the chief executive officer now directly owns 144,042 shares in the company, valued at $3,348,976.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas A. Roth sold 6,770 shares of the stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $22.72, for a total transaction of $153,814.40. Following the completion of the transaction, the chief financial officer now owns 58,783 shares in the company, valued at $1,335,549.76. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Royce & Associates LP raised its position in shares of Aceto Corp. by 187.2% in the second quarter. Royce & Associates LP now owns 1,215,573 shares of the company’s stock valued at $26,609,000 after buying an additional 792,383 shares in the last quarter. Wellington Management Group LLP raised its stake in Aceto Corp. by 52.9% in the first quarter. Wellington Management Group LLP now owns 1,218,325 shares of the company’s stock valued at $28,703,000 after buying an additional 421,665 shares during the period. Hillcrest Asset Management LLC purchased a new stake in Aceto Corp. during the first quarter valued at $9,430,000. Loomis Sayles & Co. L P raised its stake in Aceto Corp. by 17.5% in the first quarter. Loomis Sayles & Co. L P now owns 1,416,094 shares of the company’s stock valued at $33,363,000 after buying an additional 211,318 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new stake in Aceto Corp. during the second quarter valued at $2,588,000. Institutional investors and hedge funds own 86.85% of the company’s stock.
About Aceto Corp.
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.
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