Aceto (NASDAQ:ACET) Upgraded to “Sell” at BidaskClub
Aceto (NASDAQ:ACET) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Thursday, January 4th.
A number of other research analysts have also issued reports on the stock. ValuEngine lowered shares of Aceto from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research lowered shares of Aceto from a “hold” rating to a “strong sell” rating in a report on Thursday, November 9th. Finally, Canaccord Genuity restated a “buy” rating on shares of Aceto in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $15.00.
Shares of Aceto (ACET) opened at $11.82 on Thursday. The company has a market cap of $341.74, a PE ratio of 9.46, a P/E/G ratio of 1.06 and a beta of 1.38. Aceto has a 12 month low of $8.29 and a 12 month high of $19.45. The company has a quick ratio of 1.46, a current ratio of 2.06 and a debt-to-equity ratio of 0.77.
Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Aceto during the 3rd quarter worth about $106,000. Palisade Capital Management LLC NJ purchased a new position in shares of Aceto during the 3rd quarter worth about $131,000. BNP Paribas Arbitrage SA raised its holdings in 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 purchased a new position in Aceto in the third quarter valued at approximately $190,000. Finally, Trexquant Investment LP purchased a new position in Aceto in the third quarter valued at approximately $263,000. Institutional investors and hedge funds own 80.88% of the company’s stock.
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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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