Shares of Aceto Corp. (NASDAQ:ACET) have earned a consensus 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.
Analysts have set a twelve-month consensus price objective of $30.00 for the company and are predicting 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 77 out of 265 based on the ratings given to its competitors.
A number of equities research analysts have issued reports on ACET shares. Zacks Investment Research lowered shares of Aceto Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Craig Hallum reissued a “buy” rating on shares of Aceto Corp. in a report on Monday, August 29th.
Aceto Corp. (NASDAQ:ACET) traded down 0.32% during midday trading on Tuesday, reaching $18.97. 37,036 shares of the company were exchanged. The firm has a market capitalization of $562.42 million, a PE ratio of 16.08 and a beta of 1.36. Aceto Corp. has a 52 week low of $18.25 and a 52 week high of $32.20. The company has a 50-day moving average of $21.49 and a 200 day moving average of $22.58.
Aceto Corp. (NASDAQ:ACET) last announced its quarterly earnings data on Thursday, August 25th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by $0.04. Aceto Corp. had a net margin of 6.22% and a return on equity of 15.39%. The company had revenue of $135.40 million for the quarter, compared to analysts’ expectations of $146.71 million. During the same period last year, the business earned $0.40 earnings per share. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. Equities analysts predict that Aceto Corp. will post $1.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Friday, September 9th were issued a $0.065 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This is a positive change from Aceto Corp.’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.37%. Aceto Corp.’s dividend payout ratio (DPR) is 22.03%.
In related news, Chairman Albert L. Eilender sold 12,936 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $19.92, for a total value of $257,685.12. Following the completion of the sale, the chairman now directly owns 236,649 shares in the company, valued at $4,714,048.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Frank Debenedittis sold 3,275 shares of the firm’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $23.34, for a total value of $76,438.50. Following the completion of the sale, the vice president now owns 67,495 shares of the company’s stock, valued at $1,575,333.30. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of ACET. Goldman Sachs Group Inc. increased its stake in shares of Aceto Corp. by 57.2% in the first quarter. Goldman Sachs Group Inc. now owns 47,926 shares of the company’s stock worth $1,129,000 after buying an additional 17,441 shares in the last quarter. Zebra Capital Management LLC bought a new stake in shares of Aceto Corp. during the first quarter worth about $510,000. Motley Fool Wealth Management LLC increased its stake in shares of Aceto Corp. by 9.6% in the first quarter. Motley Fool Wealth Management LLC now owns 126,294 shares of the company’s stock worth $2,975,000 after buying an additional 11,017 shares in the last quarter. Royce & Associates LP increased its stake in shares of Aceto Corp. by 37.5% in the first quarter. Royce & Associates LP now owns 423,190 shares of the company’s stock worth $9,970,000 after buying an additional 115,400 shares in the last quarter. Finally, Bessemer Group Inc. bought a new stake in shares of Aceto Corp. during the first quarter worth about $159,000. Institutional investors own 86.85% of the company’s stock.
Aceto Corp. Company Profile
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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