Aceto (ACET) Lowered to “Strong Sell” at Zacks Investment Research
Zacks Investment Research downgraded shares of Aceto (NASDAQ:ACET) from a hold rating to a strong sell rating in a report published 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. “
Other analysts have also issued reports about the company. ValuEngine lowered Aceto from a buy rating to a hold rating in a research note on Friday, February 2nd. BidaskClub lowered Aceto from a sell rating to a strong sell rating in a research note on Friday, December 15th. Finally, Canaccord Genuity reaffirmed a buy rating on shares of Aceto in a research note on Monday, November 6th.
Aceto (NASDAQ:ACET) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $171.20 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 36.3% compared to the same quarter last year. During the same period last year, the business earned $0.24 earnings per share. equities analysts predict that Aceto will post 1.02 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Thursday, March 8th. Aceto’s dividend payout ratio (DPR) is presently -152.94%.
A number of large investors have recently added to or reduced their stakes in ACET. SG Americas Securities LLC acquired a new stake in Aceto in the third quarter valued at about $106,000. Teacher Retirement System of Texas acquired a new stake in Aceto in the fourth quarter valued at about $108,000. Palisade Capital Management LLC NJ acquired a new stake in shares of Aceto during the third quarter valued at about $131,000. BNP Paribas Arbitrage SA boosted its stake in shares of Aceto by 73.4% during the third quarter. BNP Paribas Arbitrage SA now owns 14,924 shares of the company’s stock valued at $168,000 after purchasing an additional 6,316 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Aceto during the third quarter valued at about $190,000. 78.41% of the stock is currently owned by institutional investors and hedge funds.
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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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