Truist Financial Initiates Coverage on AdvanSix (NYSE:ASIX)

Research analysts at Truist Financial assumed coverage on shares of AdvanSix (NYSE:ASIX) in a research report issued on Thursday, Marketbeat Ratings reports. The firm set a “hold” rating and a $19.00 price target on the stock. Truist Financial’s target price points to a potential upside of 3.18% from the stock’s current price.

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of AdvanSix in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.67.

AdvanSix Trading Up 1.1%

AdvanSix stock opened at $18.41 on Thursday. The business has a 50 day moving average price of $16.37 and a two-hundred day moving average price of $19.19. The company has a quick ratio of 0.74, a current ratio of 1.36 and a debt-to-equity ratio of 0.31. AdvanSix has a 12 month low of $14.10 and a 12 month high of $32.58. The stock has a market cap of $494.67 million, a price-to-earnings ratio of 9.59 and a beta of 1.71.

AdvanSix (NYSE:ASIX) last released its quarterly earnings data on Friday, November 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.32). The firm had revenue of $374.47 million for the quarter, compared to the consensus estimate of $365.00 million. AdvanSix had a net margin of 3.52% and a return on equity of 7.14%. As a group, equities analysts forecast that AdvanSix will post 4 EPS for the current year.

Institutional Trading of AdvanSix

Several large investors have recently added to or reduced their stakes in ASIX. Raymond James Financial Inc. bought a new position in shares of AdvanSix in the second quarter valued at approximately $29,000. Osaic Holdings Inc. increased its holdings in AdvanSix by 60.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock valued at $31,000 after purchasing an additional 483 shares in the last quarter. Versant Capital Management Inc increased its holdings in AdvanSix by 185.2% during the 3rd quarter. Versant Capital Management Inc now owns 2,142 shares of the company’s stock valued at $42,000 after purchasing an additional 1,391 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in AdvanSix by 27,537.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company’s stock valued at $43,000 after purchasing an additional 2,203 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in AdvanSix by 144.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,385 shares of the company’s stock worth $57,000 after purchasing an additional 1,408 shares in the last quarter. 86.39% of the stock is owned by institutional investors.

About AdvanSix

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.