AdvanSix (NYSE:ASIX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $42.00 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.48% from the stock’s current price.
According to Zacks, “AdvanSix Inc. is a producer and supplier of Nylon 6 materials. The company’s polymer resin sold under the Aegis(R) brand to produce engineered plastics, fibers, filaments and films which in turn used in end products such as automotive and electronic components, carpets, sports apparel, fishing nets and food as well as industrial packaging. AdvanSix also produces caprolactam, the main feedstock for producing nylon; Caprannylon film(R); Sulf-N (R) ammonium sulfate fertilizers and chemical intermediates, including phenol, acetone, and Nadone (R) cyclohexanone. AdvanSix Inc. is based in Morris Plains, United States. “
Other equities analysts have also issued research reports about the company. Cowen decreased their price target on AdvanSix from $47.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, April 12th. ValuEngine upgraded AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th.
AdvanSix stock opened at $37.34 on Tuesday. AdvanSix has a one year low of $25.89 and a one year high of $46.51. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.87 and a current ratio of 1.31. The firm has a market cap of $1,155.57, a price-to-earnings ratio of 12.45 and a beta of 1.43.
AdvanSix (NYSE:ASIX) last issued its quarterly earnings results on Friday, February 23rd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.10. AdvanSix had a return on equity of 32.17% and a net margin of 9.94%. The company had revenue of $370.39 million for the quarter, compared to analyst estimates of $365.40 million. The company’s revenue was up 42.8% on a year-over-year basis. equities research analysts expect that AdvanSix will post 3.28 earnings per share for the current fiscal year.
In other AdvanSix news, Director Michael Marberry purchased 715 shares of the firm’s stock in a transaction dated Friday, March 23rd. The shares were bought at an average price of $34.97 per share, for a total transaction of $25,003.55. Following the purchase, the director now owns 18,911 shares in the company, valued at approximately $661,317.67. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders bought 2,688 shares of company stock worth $99,935. Corporate insiders own 2.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASIX. Sterling Capital Management LLC boosted its holdings in shares of AdvanSix by 930.5% during the 4th quarter. Sterling Capital Management LLC now owns 244,393 shares of the company’s stock valued at $10,282,000 after acquiring an additional 220,676 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of AdvanSix during the 4th quarter valued at $8,919,000. AWH Capital L.P. acquired a new stake in shares of AdvanSix during the 4th quarter valued at $6,836,000. Wells Fargo & Company MN boosted its holdings in shares of AdvanSix by 109.3% during the 3rd quarter. Wells Fargo & Company MN now owns 289,673 shares of the company’s stock valued at $11,514,000 after acquiring an additional 151,278 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its holdings in shares of AdvanSix by 141.3% during the 4th quarter. WINTON GROUP Ltd now owns 255,982 shares of the company’s stock valued at $10,769,000 after acquiring an additional 149,908 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors.
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AdvanSix Company Profile
AdvanSix Inc manufactures and sells polymer resins in the United States. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce engineered plastics, fibers, filaments, and films. The company also provides caprolactam, ammonium sulfate fertilizers, and acetone, as well as other intermediate chemicals, including phenol, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, cyclohexanol, acetaldehyde oxime, 2-pentanone oxime, sulfuric acid, ammonia, and carbon dioxide.
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