Aceto Chairman Sells $31,588 in Stock (ACET)
Aceto (NASDAQ:ACET) Chairman Albert L. Eilender sold 1,750 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $18.05, for a total value of $31,587.50. Following the sale, the chairman now directly owns 178,939 shares of the company’s stock, valued at approximately $3,229,849. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on ACET. 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.
Shares of Aceto (NASDAQ:ACET) opened at 18.14 on Monday. 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 P/E ratio of 17.60.
Aceto (NASDAQ:ACET) last posted its quarterly 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 revenue for the quarter 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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