Aceto (NASDAQ:ACET) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” 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 equities research analysts have also recently issued research reports about the stock. ValuEngine raised shares of Aceto from a “hold” rating to a “buy” rating in a research report on Wednesday, September 13th. BidaskClub cut shares of Aceto from a “sell” rating to a “strong sell” rating in a research report on Friday, December 15th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Aceto in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $15.00.
Aceto (NASDAQ:ACET) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. Aceto had a net margin of 1.07% and a return on equity of 10.18%. The firm had revenue of $185.26 million during the quarter, compared to analysts’ expectations of $190.58 million. During the same quarter in the prior year, the company earned $0.28 EPS. The company’s revenue was up 44.7% compared to the same quarter last year. research analysts expect that Aceto will post 1.07 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of ACET. SG Americas Securities LLC purchased a new stake in Aceto during the third quarter valued at approximately $106,000. Palisade Capital Management LLC NJ purchased a new stake in Aceto during the third quarter valued at approximately $131,000. BNP Paribas Arbitrage SA lifted its position in Aceto by 56.9% during the second quarter. BNP Paribas Arbitrage SA now owns 8,608 shares of the company’s stock valued at $133,000 after acquiring an additional 3,121 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Aceto during the third quarter valued at approximately $190,000. Finally, Trexquant Investment LP purchased a new stake in Aceto during the third quarter valued at approximately $263,000. 80.84% of the stock is owned by institutional investors.
Aceto Company Profile
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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