Wall Street Zen Downgrades AdvanSix (NYSE:ASIX) to Hold

AdvanSix (NYSE:ASIX) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Other research analysts have also recently issued reports about the company. Truist Financial raised their target price on AdvanSix from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of AdvanSix in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.00.

AdvanSix Trading Down 1.0%

AdvanSix stock opened at $18.63 on Monday. The company has a market cap of $500.51 million, a P/E ratio of 10.29 and a beta of 1.66. The firm’s 50-day moving average is $17.89 and its 200-day moving average is $18.20. AdvanSix has a 1 year low of $14.10 and a 1 year high of $25.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.52 and a current ratio of 1.13.

AdvanSix (NYSE:ASIX) last released its quarterly earnings data on Friday, February 20th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $359.95 million for the quarter, compared to analysts’ expectations of $340.85 million. AdvanSix had a net margin of 3.24% and a return on equity of 6.97%. On average, equities analysts expect that AdvanSix will post 4 earnings per share for the current year.

Hedge Funds Weigh In On AdvanSix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its stake in shares of AdvanSix by 165.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 413,813 shares of the company’s stock valued at $9,828,000 after acquiring an additional 257,789 shares during the last quarter. CenterBook Partners LP bought a new stake in AdvanSix during the 2nd quarter worth approximately $2,967,000. Brandywine Global Investment Management LLC increased its holdings in AdvanSix by 19.9% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 116,740 shares of the company’s stock valued at $2,773,000 after purchasing an additional 19,370 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in AdvanSix in the 2nd quarter valued at $266,000. Finally, LSV Asset Management raised its position in AdvanSix by 4.7% in the 2nd quarter. LSV Asset Management now owns 629,706 shares of the company’s stock valued at $14,956,000 after purchasing an additional 28,459 shares during the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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.