AdvanSix (NYSE:ASIX) Stock Price Target Lowered at Truist Financial

AdvanSix (NYSE:ASIX) had its price objective cut by stock analysts at Truist Financial from $18.00 to $16.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial‘s price objective suggests a potential downside of 4.30% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut AdvanSix from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings lowered shares of AdvanSix from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, AdvanSix has an average rating of “Reduce” and an average price target of $20.50.

AdvanSix Stock Down 0.6%

AdvanSix stock opened at $16.72 on Monday. AdvanSix has a fifty-two week low of $14.10 and a fifty-two week high of $26.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.70 and a current ratio of 1.20. The company has a market capitalization of $451.58 million, a P/E ratio of -19.90 and a beta of 1.27. The stock has a 50-day simple moving average of $16.26 and a 200-day simple moving average of $19.40.

AdvanSix (NYSE:ASIX) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.20). The firm had revenue of $430.81 million for the quarter, compared to analysts’ expectations of $426.00 million. AdvanSix had a negative return on equity of 2.29% and a negative net margin of 1.40%. Equities research analysts expect that AdvanSix will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On AdvanSix

A number of hedge funds and other institutional investors have recently made changes to their positions in ASIX. CenterBook Partners LP increased its position in AdvanSix by 58.4% in the 3rd quarter. CenterBook Partners LP now owns 216,550 shares of the company’s stock valued at $3,447,000 after acquiring an additional 79,866 shares during the period. State of Wyoming lifted its position in AdvanSix by 459.2% during the 3rd quarter. State of Wyoming now owns 4,899 shares of the company’s stock worth $78,000 after acquiring an additional 4,023 shares during the period. Signaturefd LLC lifted its position in AdvanSix by 278.1% during the 3rd quarter. Signaturefd LLC now owns 1,724 shares of the company’s stock worth $27,000 after acquiring an additional 1,268 shares during the period. Core Capital Management & Research inc. acquired a new stake in AdvanSix during the 2nd quarter worth approximately $2,766,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of AdvanSix in the 2nd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 86.39% of the company’s stock.

AdvanSix Company Profile

AdvanSix Inc (NYSE:ASIX) is a diversified chemistry company that manufactures and sells polymer resins, chemical intermediates and performance products. Its portfolio includes nylon 6 resin, caprolactam, ammonium sulfate fertilizer, acetone and other chemical products used in a range of industrial and consumer applications.

The company’s nylon 6 products are used in fibers, engineered plastics, films, automotive components, electrical and electronics products, and other applications. Its chemical intermediates support the production of coatings, adhesives, solvents and other materials, while its ammonium sulfate products are marketed as nitrogen and sulfur fertilizers for agricultural use.

AdvanSix was established as an independent, publicly traded company in 2016 following its separation from Honeywell International.