Aceto Co. (ACET) Receives Average Recommendation of “Hold” from Analysts
Shares of Aceto Co. (NASDAQ:ACET) have received a consensus recommendation of “Hold” from the seven research firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company.
A number of brokerages have issued reports on ACET. ValuEngine upgraded Aceto from a “hold” rating to a “buy” rating in a research report on Wednesday, September 13th. BidaskClub downgraded Aceto from a “sell” rating to a “strong sell” rating in a research report on Friday, December 15th. Canaccord Genuity set a $15.00 target price on Aceto and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, Zacks Investment Research upgraded Aceto from a “strong sell” rating to a “hold” rating in a research report on Monday, October 30th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its position in shares of Aceto by 308.6% in the third quarter. Janney Montgomery Scott LLC now owns 101,950 shares of the company’s stock valued at $1,145,000 after acquiring an additional 77,000 shares in the last quarter. Royce & Associates LP lifted its position in shares of Aceto by 537.8% in the third quarter. Royce & Associates LP now owns 934,943 shares of the company’s stock valued at $10,499,000 after acquiring an additional 788,343 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Aceto in the third quarter valued at approximately $749,000. OxFORD Asset Management LLP purchased a new position in shares of Aceto in the third quarter valued at approximately $520,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Aceto in the third quarter valued at approximately $190,000. Institutional investors and hedge funds own 80.84% of the company’s stock.
Aceto (NASDAQ ACET) opened at $10.62 on Wednesday. The stock has a market capitalization of $311.03, a P/E ratio of 50.57, a price-to-earnings-growth ratio of 0.97 and a beta of 1.38. The company has a current ratio of 2.06, a quick ratio of 1.46 and a debt-to-equity ratio of 0.77. Aceto has a 1 year low of $8.29 and a 1 year high of $22.43.
Aceto (NASDAQ:ACET) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $185.26 million for the quarter, compared to the consensus estimate of $190.58 million. Aceto had a return on equity of 10.18% and a net margin of 1.07%. Aceto’s revenue for the quarter was up 44.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 earnings per share. equities analysts forecast that Aceto will post 1.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Monday, December 18th were given a $0.065 dividend. The ex-dividend date was Friday, December 15th. This represents a $0.26 annualized dividend and a dividend yield of 2.45%. Aceto’s dividend payout ratio (DPR) is presently 123.82%.
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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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