StockNews.com Upgrades AdvanSix (NYSE:ASIX) to Buy

AdvanSix (NYSE:ASIX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

ASIX has been the topic of a number of other research reports. Piper Sandler set a $32.00 price target on shares of AdvanSix in a research note on Monday. UBS Group set a $35.00 price target on shares of AdvanSix in a research note on Tuesday, March 18th.

AdvanSix Stock Up 4.1%

Shares of NYSE ASIX traded up $0.96 during trading hours on Monday, hitting $24.44. 306,563 shares of the stock were exchanged, compared to its average volume of 151,863. The company has a quick ratio of 0.49, a current ratio of 1.08 and a debt-to-equity ratio of 0.25. The company has a market cap of $655.31 million, a PE ratio of 15.18 and a beta of 1.59. The firm has a fifty day moving average price of $21.95 and a 200-day moving average price of $26.98. AdvanSix has a 12 month low of $18.44 and a 12 month high of $33.00.

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

Insider Activity

In related news, SVP Achilles B. Kintiroglou sold 4,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $22.24, for a total transaction of $88,960.00. Following the sale, the senior vice president now directly owns 36,363 shares of the company’s stock, valued at approximately $808,713.12. This represents a 9.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional Trading of AdvanSix

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in AdvanSix by 149.5% during the first quarter. GAMMA Investing LLC now owns 1,966 shares of the company’s stock worth $45,000 after buying an additional 1,178 shares in the last quarter. AlphaQuest LLC purchased a new position in AdvanSix during the fourth quarter valued at $94,000. Quantbot Technologies LP lifted its holdings in AdvanSix by 33.2% during the first quarter. Quantbot Technologies LP now owns 4,096 shares of the company’s stock valued at $93,000 after purchasing an additional 1,022 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in AdvanSix during the fourth quarter valued at $137,000. Finally, State of Wyoming purchased a new position in AdvanSix during the fourth quarter valued at $156,000. 86.39% of the stock is owned by hedge funds and other 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.