Acme United Projects $200 Million in Sales in 2022
Acme United Corp. (US: ACU – $33.25) is a leading consumer products company with a focus on first aid and safety products, as well as cutting solutions, for commercial and industrial markets worldwide.
Despite all the challenges with inflation, product availability and shipping issues, the Company delivered its 12th consecutive year of record sales. Moreover, earnings reached more than $10 million, also an all-time high for the Company.
As for 2022, Acme United is again projecting substantial growth with sales expected to reach well over $200 million.
Chairman and CEO Walter C. Johnsen commented during the fourth quarter 2021 conference call, “Acme United performed at record levels during 2021. We delivered our 12th consecutive year of sales growth and generated the highest profits in the Company’s history. Our team effectively managed significant cost increases, labor shortages, and supply chain delays. We also integrated the Med-Nap and First Aid Central acquisitions. With on our operational improvements, our expanded first aid and medical product lines, and market share gains, we believe Acme United is positioned for another outstanding year in 2022.”
While competitors are cutting back on advertising, cutting back on new product development, and firing people, Acme is doing the exact opposite. It is putting more money into online advertising, it has intensified product development, and is adding staff.
Acme United’s share price is down over 30% since its high, but there is absolutely no reason for this. The Company is achieving strong growth quarter after quarter and year after year, while many of its competitors are crumbling. It is doing so by being bold during these exceptional times.
We reiterate our buy recommendation for Acme United Corp. with a price target of $57.59, which is 73% above today’s stock price.
|Smallcaps.us Advice: Buy
|Price Target: $54.84
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