Sidoti Upgrades Aceto Corp. to “Buy” (ACET)
Aceto Corp. (NASDAQ:ACET) was upgraded by stock analysts at Sidoti from a “neutral” rating to a “buy” rating in a report issued on Monday, TheFlyOnTheWall.com reports.
Aceto Corp. (NASDAQ:ACET) traded up 10.60% during mid-day trading on Monday, hitting $18.88. 266,460 shares of the company’s stock traded hands. Aceto Corp. has a one year low of $11.50 and a one year high of $25.25. The stock’s 50-day moving average is $20.76 and its 200-day moving average is $20.55. The company has a market cap of $542.4 million and a price-to-earnings ratio of 16.87.
Aceto Corp. (NASDAQ:ACET) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.19 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.28 by $0.09. The company had revenue of $124.83 million for the quarter, compared to the consensus estimate of $136.70 million. Aceto Corp.’s revenue was down 17.3% compared to the same quarter last year. Analysts expect that Aceto Corp. will post $1.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 27th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Tuesday, June 10th.
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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