Aceto Corporation (ACET) Given Average Recommendation of “Hold” by Brokerages
Shares of Aceto Corporation (NASDAQ:ACET) have received an average rating of “Hold” from the seven analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company.
ACET has been the subject of a number of analyst reports. Canaccord Genuity set a $15.00 target price on shares of Aceto and gave the company a “buy” rating in a research note on Monday, October 30th. Zacks Investment Research lowered shares of Aceto from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 9th. Finally, ValuEngine raised shares of Aceto from a “hold” rating to a “buy” rating in a research note on Wednesday, September 13th.
A number of institutional investors have recently bought and sold shares of ACET. Teachers Advisors LLC raised its position in shares of Aceto by 5.8% during the 1st quarter. Teachers Advisors LLC now owns 51,535 shares of the company’s stock worth $815,000 after buying an additional 2,822 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Aceto by 3.2% during the 1st quarter. Geode Capital Management LLC now owns 235,063 shares of the company’s stock worth $3,716,000 after buying an additional 7,186 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Aceto by 5.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 114,076 shares of the company’s stock worth $1,804,000 after buying an additional 6,156 shares in the last quarter. Texas Permanent School Fund raised its position in shares of Aceto by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 21,977 shares of the company’s stock worth $340,000 after buying an additional 170 shares in the last quarter. Finally, New Amsterdam Partners LLC NY raised its position in shares of Aceto by 18.2% during the 2nd quarter. New Amsterdam Partners LLC NY now owns 172,628 shares of the company’s stock worth $2,667,000 after buying an additional 26,578 shares in the last quarter. 80.67% of the stock is owned by hedge funds and other institutional investors.
Aceto (NASDAQ:ACET) last posted its earnings results on Thursday, November 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $185.26 million during the quarter, compared to analyst estimates of $190.58 million. Aceto had a net margin of 1.07% and a return on equity of 10.18%. Aceto’s revenue was up 44.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 EPS. analysts anticipate that Aceto will post 1.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Monday, December 18th will be paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Friday, December 15th. Aceto’s payout ratio is 123.82%.
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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