Aceto Director Unloads $33,340 in Stock (ACET)
Aceto (NASDAQ:ACET) Director Hans C. Noetzli unloaded 2,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $16.67, for a total value of $33,340.00. Following the transaction, the director now directly owns 55,587 shares in the company, valued at approximately $926,635. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Aceto (NASDAQ:ACET) traded down 0.66% on Monday, hitting $16.64. 198,861 shares of the company’s stock traded hands. Aceto has a one year low of $14.28 and a one year high of $25.25. The stock has a 50-day moving average of $17.52 and a 200-day moving average of $19.22. The company has a market cap of $478.1 million and a price-to-earnings ratio of 16.55.
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.
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.
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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