Shares of Aceto Corporation (NASDAQ:ACET) have received an average broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation.
Brokers have set a 12-month consensus target price of $16.50 for the company and are expecting that the company will post $0.47 earnings per share for the current quarter, according to Zacks. Zacks has also given Aceto Corporation an industry rank of 74 out of 265 based on the ratings given to related companies.
ACET has been the subject of several recent research reports. Zacks Investment Research downgraded Aceto Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 8th. ValuEngine downgraded Aceto Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.
Aceto Corporation (NASDAQ:ACET) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The firm had revenue of $190.10 million for the quarter, compared to the consensus estimate of $195.09 million. Aceto Corporation had a net margin of 2.79% and a return on equity of 11.15%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, June 9th will be issued a dividend of $0.065 per share. The ex-dividend date is Wednesday, June 7th. This represents a $0.26 annualized dividend and a yield of 1.72%. Aceto Corporation’s dividend payout ratio (DPR) is currently 50.00%.
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A number of large investors have recently made changes to their positions in the company. Deprince Race & Zollo Inc. increased its stake in shares of Aceto Corporation by 131.8% in the first quarter. Deprince Race & Zollo Inc. now owns 1,254,547 shares of the company’s stock valued at $19,834,000 after buying an additional 713,284 shares during the period. Champlain Investment Partners LLC increased its stake in shares of Aceto Corporation by 58.3% in the fourth quarter. Champlain Investment Partners LLC now owns 1,244,600 shares of the company’s stock valued at $27,344,000 after buying an additional 458,345 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Aceto Corporation by 10.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,396,238 shares of the company’s stock valued at $37,885,000 after buying an additional 218,781 shares during the period. AlphaOne Investment Services LLC increased its stake in shares of Aceto Corporation by 496.5% in the first quarter. AlphaOne Investment Services LLC now owns 242,180 shares of the company’s stock valued at $3,828,000 after buying an additional 201,580 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Aceto Corporation by 105.3% in the first quarter. Bank of America Corp DE now owns 354,549 shares of the company’s stock valued at $5,605,000 after buying an additional 181,819 shares during the period. Institutional investors and hedge funds own 81.72% of the company’s stock.
About Aceto Corporation
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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