Aceto (ACET) Announces Quarterly Earnings Results

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Aceto (NASDAQ:ACET) announced its earnings results on Thursday. The company reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.54), RTT News reports. The company had revenue of $164.41 million for the quarter. Aceto had a positive return on equity of 0.55% and a negative net margin of 34.41%. During the same period in the previous year, the business posted $0.30 earnings per share.

Shares of NASDAQ ACET traded down $0.23 during midday trading on Friday, hitting $1.80. The company’s stock had a trading volume of 996,398 shares, compared to its average volume of 252,886. The company has a debt-to-equity ratio of 3.18, a quick ratio of 1.21 and a current ratio of 1.66. Aceto has a 1 year low of $1.53 and a 1 year high of $11.98. The firm has a market cap of $63.14 million, a price-to-earnings ratio of 45.00 and a beta of 1.58.

In other news, Chairman Albert L. Eilender sold 10,700 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $3.29, for a total value of $35,203.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 32,187 shares of company stock valued at $102,225. Insiders own 4.10% of the company’s stock.

Separately, ValuEngine raised shares of Aceto from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Five investment analysts have rated the stock with a sell rating, Aceto presently has a consensus rating of “Sell” and an average price target of $2.00.

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Aceto Company Profile

Aceto Corporation engages in the development, marketing, sale, and distribution of finished dosage form generic pharmaceuticals, nutraceutical products, pharmaceutical active ingredients and intermediates, specialty performance chemicals, and agricultural protection products. The company operates in three segments: Human Health, Pharmaceutical Ingredients, and Performance Chemicals.

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Earnings History for Aceto (NASDAQ:ACET)

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