ValuEngine Upgrades AdvanSix (NYSE:ASIX) to “Hold”

AdvanSix (NYSE:ASIX) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday, ValuEngine reports.

Separately, Zacks Investment Research lowered AdvanSix from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $34.00.

ASIX stock traded up $0.61 during midday trading on Thursday, reaching $25.06. The company’s stock had a trading volume of 179,983 shares, compared to its average volume of 124,200. The company has a quick ratio of 0.50, a current ratio of 1.05 and a debt-to-equity ratio of 0.74. The company’s fifty day moving average price is $25.23. AdvanSix has a 1 year low of $22.57 and a 1 year high of $41.45. The stock has a market cap of $710.70 million, a price-to-earnings ratio of 11.99 and a beta of 1.89.

AdvanSix (NYSE:ASIX) last released its earnings results on Thursday, August 1st. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. AdvanSix had a return on equity of 17.96% and a net margin of 5.09%. The business had revenue of $345.22 million for the quarter, compared to analyst estimates of $344.33 million. During the same quarter last year, the firm posted $0.91 earnings per share. The business’s revenue was down 13.8% compared to the same quarter last year. On average, equities research analysts predict that AdvanSix will post 2.25 earnings per share for the current fiscal year.

In other news, Director Daniel F. Sansone purchased 4,000 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were purchased at an average price of $27.37 per share, for a total transaction of $109,480.00. Following the completion of the purchase, the director now owns 18,861 shares in the company, valued at approximately $516,225.57. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael Marberry purchased 3,700 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were purchased at an average price of $26.99 per share, for a total transaction of $99,863.00. Following the purchase, the director now owns 39,996 shares of the company’s stock, valued at approximately $1,079,492.04. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Patten & Patten Inc. TN bought a new stake in AdvanSix during the first quarter valued at about $217,000. Cubic Asset Management LLC bought a new stake in AdvanSix during the first quarter valued at about $703,000. Gamco Investors INC. ET AL bought a new stake in AdvanSix during the first quarter valued at about $221,000. Gateway Investment Advisers LLC boosted its position in AdvanSix by 54.6% during the second quarter. Gateway Investment Advisers LLC now owns 64,796 shares of the company’s stock valued at $1,583,000 after purchasing an additional 22,887 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in AdvanSix by 79.3% in the first quarter. Assenagon Asset Management S.A. now owns 86,189 shares of the company’s stock worth $2,462,000 after acquiring an additional 38,130 shares in the last quarter. Hedge funds and other institutional investors own 82.72% of the company’s stock.

About AdvanSix

AdvanSix Inc manufactures and sells polymer resins. 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 to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone, which is used by customers in the production of adhesives, paints, coatings, solvents, herbicides, and other engineered plastic resins, 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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