Acme United Co. (ACU) Rating Lowered to Hold at Zacks Investment Research
Acme United Co. (NYSEMKT:ACU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “ACME UNITED CORP. operates principally in two business segments. Operations in the medical segment involve the production and sale of metal disposable medical scissors and instruments, sterile procedure trays, germicidal products, dressings and wound care packs. Operations in the consumer segment involve the production and sale of shears, scissors, knives, rulers, first aid kits and chalk board items for school, office and home use. “
ACU has been the topic of several other research reports. Singular Research lifted their price target on shares of Acme United from $21.00 to $24.50 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. DA Davidson started coverage on shares of Acme United in a research report on Friday, July 1st. They issued a “buy” rating on the stock.
Shares of Acme United (NYSEMKT:ACU) opened at 21.90 on Wednesday. The firm has a market capitalization of $72.75 million, a P/E ratio of 14.43 and a beta of 0.53. Acme United has a 12-month low of $13.01 and a 12-month high of $22.19. The stock’s 50 day moving average price is $20.84 and its 200-day moving average price is $18.66.
Acme United (NYSEMKT:ACU) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.13. The company had revenue of $41 million for the quarter, compared to analyst estimates of $37.15 million. On average, equities analysts expect that Acme United will post $1.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 24th. Shareholders of record on Monday, October 3rd will be given a $0.10 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.40 annualized dividend and a yield of 1.83%. Acme United’s dividend payout ratio (DPR) is 26.32%.
About Acme United
Acme United Corporation is a supplier of cutting, measuring, first aid and sharpening products to the school, home, office, hardware, sporting goods and industrial markets. The Company operates in three segments: United States (including Asian operations), Canada and Europe. Its operations in the United States, Canada and Europe are involved in product development, marketing, sales, administrative and distribution activities.
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