Aceto Corporation (ACET) Posts Earnings Results
Aceto Corporation (NASDAQ:ACET) released its earnings results on Thursday. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02, Bloomberg Earnings reports. Aceto Corporation had a net margin of 1.78% and a return on equity of 10.21%. The business had revenue of $185.26 million for the quarter, compared to the consensus estimate of $190.58 million. During the same period in the previous year, the firm earned $0.28 EPS. The business’s revenue for the quarter was up 44.7% on a year-over-year basis. Aceto Corporation updated its FY18 guidance to $1.05-1.15 EPS.
Shares of Aceto Corporation (ACET) opened at $9.88 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.52 and a current ratio of 2.13. The company has a market capitalization of $282.82 million, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 0.71 and a beta of 1.38.
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A number of analysts recently commented on ACET shares. Canaccord Genuity set a $15.00 target price on shares of Aceto Corporation and gave the stock a “buy” rating in a research report on Monday, October 30th. ValuEngine raised shares of Aceto Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, September 13th. BidaskClub downgraded shares of Aceto Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research raised shares of Aceto Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $18.00.
In other Aceto Corporation news, Chairman Albert L. Eilender sold 9,530 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $10.47, for a total value of $99,779.10. Following the sale, the chairman now owns 307,028 shares of the company’s stock, valued at approximately $3,214,583.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Walter J. Kaczmarek III sold 2,635 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $10.57, for a total value of $27,851.95. Following the completion of the sale, the chief operating officer now directly owns 72,817 shares in the company, valued at approximately $769,675.69. The disclosure for this sale can be found here. Insiders have sold a total of 26,283 shares of company stock worth $275,189 in the last three months. 4.10% of the stock is currently owned by insiders.
Aceto Corporation Company Profile
Aceto Corporation (Aceto) is engaged in the marketing, sales and distribution of finished dosage form generic pharmaceuticals, nutraceutical products, pharmaceutical active ingredients and intermediates, specialty performance chemicals inclusive of agricultural intermediates and agricultural protection products.
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