Aceto (ACET) Reaches New 1-Year Low at $6.88

Aceto Co. (NASDAQ:ACET) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $6.88 and last traded at $6.87, with a volume of 193567 shares traded. The stock had previously closed at $7.19.

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity set a $10.00 price target on shares of Aceto and gave the stock a “buy” rating in a report on Friday, February 16th. Zacks Investment Research downgraded shares of Aceto from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 6th. ValuEngine downgraded shares of Aceto from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, BidaskClub raised shares of Aceto from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th.

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The company has a market capitalization of $221.18, a P/E ratio of 6.09, a price-to-earnings-growth ratio of 0.70 and a beta of 1.70. The company has a current ratio of 2.00, a quick ratio of 1.38 and a debt-to-equity ratio of 0.79.

Aceto (NASDAQ:ACET) last announced 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). The company had revenue of $171.20 million during the quarter, compared to analysts’ expectations of $176.50 million. Aceto had a negative net margin of 0.79% and a positive return on equity of 10.26%. The company’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 earnings per share. sell-side analysts expect that Aceto Co. will post 1.02 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Thursday, March 8th. Aceto’s dividend payout ratio is currently -162.50%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in Aceto in the third quarter valued at approximately $106,000. Teacher Retirement System of Texas purchased a new stake in Aceto in the fourth quarter valued at approximately $108,000. Stone Ridge Asset Management LLC purchased a new stake in Aceto in the fourth quarter valued at approximately $122,000. MetLife Investment Advisors LLC purchased a new stake in Aceto in the fourth quarter valued at approximately $146,000. Finally, BNP Paribas Arbitrage SA raised its stake in Aceto by 73.4% in the third 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 in the last quarter. 76.27% of the stock is currently owned by institutional investors and hedge funds.

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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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