Insider Selling: Hans C. Noetzli Sells 2,000 Shares of Aceto Stock (ACET)
Aceto (NASDAQ:ACET) Director Hans C. Noetzli sold 2,000 shares of the company’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $17.86, for a total value of $35,720.00. Following the completion of the sale, the director now directly owns 57,587 shares in the company, valued at approximately $1,028,504. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
ACET has been the subject of a number of recent research reports. 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 (NASDAQ:ACET) traded up 1.85% during mid-day trading on Friday, hitting $18.14. 85,840 shares of the company’s stock traded hands. Aceto has a 52-week low of $14.09 and a 52-week 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 price-to-earnings ratio of 17.60.
Aceto (NASDAQ:ACET) last announced its earnings results on Thursday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the 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. The company’s quarterly revenue was down 17.3% on a year-over-year basis. Analysts expect that Aceto will post $1.00 EPS 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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