AdvanSix (NYSE:ASIX) Given New $35.00 Price Target at Piper Sandler

AdvanSix (NYSE:ASIX) had its price target decreased by equities researchers at Piper Sandler from $39.00 to $35.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 51.06% from the stock’s previous close.

Separately, StockNews.com raised shares of AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th.

AdvanSix Price Performance

NYSE:ASIX traded down $0.93 during mid-day trading on Tuesday, reaching $23.17. 20,978 shares of the company were exchanged, compared to its average volume of 128,713. The stock has a market cap of $619.66 million, a PE ratio of 14.39 and a beta of 1.73. The company has a quick ratio of 0.49, a current ratio of 1.08 and a debt-to-equity ratio of 0.25. AdvanSix has a 12 month low of $20.86 and a 12 month high of $33.00. The company has a fifty day moving average of $28.90 and a 200 day moving average of $29.43.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings results on Friday, February 21st. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.40. AdvanSix had a net margin of 2.91% and a return on equity of 6.26%. The firm had revenue of $329.06 million for the quarter, compared to analyst estimates of $377.15 million. On average, research analysts anticipate that AdvanSix will post 4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $30.19, for a total transaction of $150,950.00. Following the completion of the sale, the chief executive officer now owns 502,795 shares in the company, valued at approximately $15,179,381.05. This trade represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On AdvanSix

A number of institutional investors and hedge funds have recently modified their holdings of the business. AlphaQuest LLC purchased a new stake in AdvanSix during the 4th quarter valued at about $94,000. Quantbot Technologies LP increased its stake in AdvanSix by 618.5% during the third quarter. Quantbot Technologies LP now owns 4,361 shares of the company’s stock worth $132,000 after acquiring an additional 3,754 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of AdvanSix in the fourth quarter valued at $137,000. State of Wyoming purchased a new position in AdvanSix in the fourth quarter valued at $156,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in AdvanSix by 29.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock valued at $184,000 after purchasing an additional 1,396 shares during the period. 86.39% of the stock is owned by institutional investors.

About AdvanSix

AdvanSix Inc engages in the manufacture and sale of polymer resins in the United States and internationally. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce fibers, filaments, engineered plastics, and films. The company also provides caprolactam to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone that are used in the production of adhesives, paints, coatings, solvents, herbicides, and engineered plastic resins, as well as other intermediate chemicals, including phenol, monoisopropylamine, dipropylamine, monoallylamine, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.