AdvanSix (NYSE:ASIX) Stock Rating Upgraded by Zacks Research

AdvanSix (NYSE:ASIX) was upgraded by Zacks Research to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

ASIX has been the topic of a number of other reports. Wall Street Zen cut shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Truist Financial increased their target price on shares of AdvanSix from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Monday, February 23rd. Loop Capital set a $25.00 price objective on shares of AdvanSix in a report on Thursday, March 12th. Finally, Weiss Ratings upgraded shares of AdvanSix from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $25.67.

AdvanSix Stock Down 0.5%

Shares of NYSE:ASIX opened at $22.38 on Tuesday. The stock has a market capitalization of $603.47 million, a price-to-earnings ratio of 60.50 and a beta of 1.33. AdvanSix has a 1-year low of $14.10 and a 1-year high of $26.73. The company’s fifty day moving average is $22.59 and its two-hundred day moving average is $19.03. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.68 and a current ratio of 1.23.

AdvanSix (NYSE:ASIX) last issued its earnings results on Friday, May 8th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.02). The business had revenue of $404.18 million for the quarter, compared to analyst estimates of $364.90 million. AdvanSix had a return on equity of 2.18% and a net margin of 0.67%. Equities analysts anticipate that AdvanSix will post 0.89 EPS for the current year.

Institutional Trading of AdvanSix

Several hedge funds have recently bought and sold shares of ASIX. Invenomic Capital Management LP acquired a new position in AdvanSix during the 3rd quarter valued at about $6,054,000. American Century Companies Inc. increased its stake in AdvanSix by 9.3% during the 3rd quarter. American Century Companies Inc. now owns 967,571 shares of the company’s stock valued at $18,752,000 after buying an additional 81,927 shares during the period. SG Americas Securities LLC increased its stake in AdvanSix by 1,145.9% during the 4th quarter. SG Americas Securities LLC now owns 67,812 shares of the company’s stock valued at $1,173,000 after buying an additional 62,369 shares during the period. Waterfront Wealth Inc. increased its stake in AdvanSix by 380.7% during the 4th quarter. Waterfront Wealth Inc. now owns 67,250 shares of the company’s stock valued at $1,141,000 after buying an additional 53,261 shares during the period. Finally, Deprince Race & Zollo Inc. increased its stake in AdvanSix by 15.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 293,768 shares of the company’s stock valued at $5,082,000 after buying an additional 38,611 shares during the period. 86.39% of the stock is currently owned by institutional investors.

AdvanSix Company Profile

AdvanSix, Inc (NYSE: ASIX) is an integrated chemical manufacturer specializing in the production of nylon 6 intermediates and related co‐products. Established as a publicly traded spin‐off from Honeywell Specialty Chemicals in June 2016, the company is headquartered in Parsippany, New Jersey.

The company’s principal product is caprolactam, the key building block for nylon 6 resin, used in fibers and engineering plastics across industries. In addition to caprolactam and nylon 6 resin, AdvanSix produces ammonium sulfate fertilizer and industrial chemicals such as phenol and acetone.