Aceto (ACET) Downgraded to “Hold” at ValuEngine

Aceto (NASDAQ:ACET) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

A number of other research firms have also recently commented on ACET. Canaccord Genuity set a $15.00 target price on shares of Aceto and gave the stock a “buy” rating in a report on Monday, October 30th. BidaskClub downgraded Aceto from a “sell” rating to a “strong sell” rating in a research note on Friday, December 15th. Finally, Zacks Investment Research downgraded Aceto from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.00.

Aceto (NASDAQ ACET) remained flat at $$10.33 during mid-day trading on Friday. The stock had a trading volume of 245,987 shares, compared to its average volume of 317,214. The stock has a market cap of $311.03, a P/E ratio of 49.19, a PEG ratio of 0.97 and a beta of 1.38. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.06 and a quick ratio of 1.46. Aceto has a 12 month low of $8.29 and a 12 month high of $22.43.

Aceto (NASDAQ:ACET) last posted its earnings results on Thursday, November 2nd. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $185.26 million during the quarter, compared to analysts’ expectations of $190.58 million. Aceto had a net margin of 1.07% and a return on equity of 10.18%. The business’s revenue for the quarter was up 44.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 earnings per share. analysts predict that Aceto will post 1.07 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in ACET. SG Americas Securities LLC acquired a new position in shares of Aceto in the third quarter valued at approximately $106,000. Palisade Capital Management LLC NJ acquired a new position in shares of Aceto in the third quarter valued at approximately $131,000. BNP Paribas Arbitrage SA increased its stake in shares of Aceto by 56.9% in the second quarter. BNP Paribas Arbitrage SA now owns 8,608 shares of the company’s stock valued at $133,000 after buying an additional 3,121 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Aceto in the third quarter valued at approximately $190,000. Finally, Trexquant Investment LP acquired a new position in shares of Aceto in the third quarter valued at approximately $263,000. 80.84% of the stock is owned by institutional investors.

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About Aceto

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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