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

AdvanSix (NYSE:ASIX) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Other equities analysts also recently issued research reports about the company. Weiss Ratings downgraded AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. Zacks Research raised AdvanSix to a “hold” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $22.50.

AdvanSix Stock Up 0.3%

Shares of NYSE ASIX opened at $16.53 on Friday. The firm has a market cap of $445.54 million, a price-to-earnings ratio of -25.04 and a beta of 1.29. The company’s 50-day simple moving average is $20.64 and its 200-day simple moving average is $20.82. The company has a quick ratio of 0.70, a current ratio of 1.28 and a debt-to-equity ratio of 0.35. AdvanSix has a 52-week low of $14.10 and a 52-week high of $26.73.

AdvanSix (NYSE:ASIX) last released its quarterly earnings results on Friday, August 7th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.37). AdvanSix had a negative return on equity of 1.28% and a negative net margin of 1.14%.The company had revenue of $421.28 million for the quarter, compared to analyst estimates of $452.00 million. Equities analysts predict that AdvanSix will post 0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in AdvanSix during the second quarter worth $48,517,000. Vanguard Group Inc. increased its stake in shares of AdvanSix by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,990,011 shares of the company’s stock worth $38,566,000 after acquiring an additional 10,642 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of AdvanSix by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,311,006 shares of the company’s stock worth $31,988,000 after acquiring an additional 8,131 shares during the period. Aegis Financial Corp purchased a new position in shares of AdvanSix during the 4th quarter worth $20,927,000. Finally, Alliancebernstein L.P. boosted its position in shares of AdvanSix by 55.3% during the 3rd quarter. Alliancebernstein L.P. now owns 948,491 shares of the company’s stock valued at $18,382,000 after acquiring an additional 337,908 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.