Aceto Chairman Albert L. Eilender Sells 1,750 Shares (ACET)
Aceto (NASDAQ:ACET) Chairman Albert L. Eilender sold 1,750 shares of Aceto stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $18.05, for a total transaction of $31,587.50. Following the sale, the chairman now directly owns 178,939 shares in the company, valued at approximately $3,229,849. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Aceto (NASDAQ:ACET) traded up 1.85% during mid-day trading on Friday, hitting $18.14. The stock had a trading volume of 85,840 shares. Aceto has a 1-year low of $14.09 and a 1-year high of $25.25. The stock’s 50-day moving average is $17.56 and its 200-day moving average is $20.04. The company has a market cap of $521.1 million and a P/E ratio of 17.60.
Aceto (NASDAQ:ACET) last announced its 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’s revenue was down 17.3% compared to the same quarter last year. Analysts expect that Aceto will post $1.00 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Singular Research cut their price target on shares of Aceto from $24.00 to $22.00 in a research note on Tuesday, May 20th. They now have a “buy” rating on the stock. Analysts at Sidoti upgraded shares of Aceto from a “neutral” rating to a “buy” rating in a research note on Monday, May 19th.
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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