Sidoti Downgrades Aceto Corp. to Neutral (ACET)
Aceto Corp. (NASDAQ:ACET) was downgraded by stock analysts at Sidoti from a “buy” rating to a “neutral” rating in a report issued on Thursday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on ACET. Analysts at Thomson Reuters/Verus upgraded shares of Aceto Corp. from a “hold” rating to a “buy” rating in a research note to investors on Monday, September 2nd.
Shares of Aceto Corp. (NASDAQ:ACET) traded down 0.54% during mid-day trading on Thursday, hitting $16.61. 144,666 shares of the company’s stock traded hands. Aceto Corp. has a one year low of $8.95 and a one year high of $17.29. The stock has a 50-day moving average of $15.63 and a 200-day moving average of $12.86. The company has a market cap of $466.3 million and a price-to-earnings ratio of 20.62.
Aceto Corp. (NASDAQ:ACET) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.19 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.20 by $0.01. The company had revenue of $123.10 million for the quarter, compared to the consensus estimate of $113.10 million. On average, analysts predict that Aceto Corp. will post $1.03 earnings per share for the current fiscal year.
Aceto Corporation (NASDAQ:ACET) is primarily engaged in the sourcing, regulatory support, quality assurance, marketing, sales and distribution of pharmaceutical intermediates and active ingredients, finished dosage form generics, nutraceutical products, agricultural protection products and specialty chemicals used principally as finished products or raw materials in the pharmaceutical, nutraceutical, agricultural, coatings and industrial chemical consuming industries.
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