Aceto (ACET) Cut to Strong Sell at Zacks Investment Research

Aceto (NASDAQ:ACET) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday.

According to Zacks, “Aceto Corporation markets, sells and distributes finished dosage form generics, nutraceutical products, pharmaceutical intermediates and active ingredients, agricultural protection products and specialty chemicals. The company’s operating segment consists of Human Health, Pharmaceutical Ingredients and Performance Chemicals. Human Health segment supplies raw materials used in the production of nutritional and packaged dietary supplements. It markets and distributes its generic prescription and over the counter pharmaceutical products. Pharmaceutical Ingredients segment offers active pharmaceutical ingredients and pharmaceutical intermediates. Performance Chemicals segment provides specialty chemicals. It serves chemical, agricultural, human health and pharmaceutical industries. The company operates primarily in United States, Europe, and Asia. Aceto Corporation and is headquartered in Port Washington, New York. “

ACET has been the subject of several other research reports. Canaccord Genuity reiterated a “buy” rating on shares of Aceto in a research report on Monday, November 6th. ValuEngine cut shares of Aceto from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, BidaskClub upgraded shares of Aceto from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 4th.

Shares of Aceto (NASDAQ:ACET) traded down $0.45 during trading on Tuesday, hitting $7.27. 1,201,754 shares of the company’s stock traded hands, compared to its average volume of 479,970. The company has a market cap of $243.64, a PE ratio of -45.44, a price-to-earnings-growth ratio of 0.77 and a beta of 1.40. Aceto has a 52 week low of $7.27 and a 52 week high of $17.10. The company has a quick ratio of 1.38, a current ratio of 2.00 and a debt-to-equity ratio of 0.79.

Aceto (NASDAQ:ACET) last issued its earnings results on Thursday, February 1st. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $171.20 million for the quarter, compared to the consensus estimate of $176.50 million. Aceto had a negative net margin of 0.79% and a positive return on equity of 10.26%. The business’s revenue was up 36.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. research analysts forecast that Aceto will post 1.02 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in ACET. Royce & Associates LP grew its holdings in shares of Aceto by 537.8% in the 3rd quarter. Royce & Associates LP now owns 934,943 shares of the company’s stock valued at $10,499,000 after buying an additional 788,343 shares during the period. Northern Trust Corp grew its holdings in shares of Aceto by 18.2% in the 2nd quarter. Northern Trust Corp now owns 1,556,429 shares of the company’s stock valued at $24,047,000 after buying an additional 239,212 shares during the period. Vanguard Group Inc. grew its holdings in shares of Aceto by 14.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,545,990 shares of the company’s stock valued at $23,887,000 after buying an additional 191,584 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Aceto by 49.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 494,739 shares of the company’s stock valued at $7,646,000 after buying an additional 163,046 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Aceto by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,530,011 shares of the company’s stock valued at $39,089,000 after buying an additional 133,773 shares during the period. 78.41% of the stock is owned by institutional investors.

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Aceto 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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