Aceto Corporation (ACET) Releases Earnings Results, Beats Expectations By $0.02 EPS

Aceto Corporation (ACET) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.42 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.40. The company posted revenue of $157.90 million in the period, compared to analysts expectations of $149.85 million. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Many Wall Street Analysts have commented on Aceto Corporation. First Analysis Sec Initiated Aceto Corporation on Mar 31, 2016 to “Overweight”, Price Target of the shares are set at $30.

Aceto Corporation closed down -0.1 points or -0.45% at $22.27 with 1,68,809 shares getting traded on Wednesday. Post opening the session at $22.25, the shares hit an intraday low of $22.2 and an intraday high of $22.5 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 14, 2016, Raymond Bartone (Senior Vice President) sold 3,000 shares at $22.40 per share price. According to the SEC, on Mar 8, 2016, Hans C Noetzli (director) sold 6,500 shares at $22.91 per share price. On Mar 4, 2016, Frank Debenedittis (Sr. Vice President) sold 3,000 shares at $21.98 per share price, according to the Form-4 filing with the securities and exchange commission.

Aceto Corporation (Aceto) is engaged in 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. The Company’s business is organized along product lines into three segments: Human Health Pharmaceutical Ingredients and Performance Chemicals. The Human Health segment includes finished dosage form generic drugs and nutraceutical products. The Pharmaceutical Ingredients segment has two product groups: Active Pharmaceutical Ingredients (APIs) and Pharmaceutical Intermediates. The Performance Chemicals segment includes specialty chemicals and agricultural protection products. The Company has operations in China Germany France the Netherlands Singapore India Hong Kong Philippines the United Kingdom and the United States.

Aceto Corporation

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