AdvanSix (NYSE:ASIX) Stock Rating Upgraded by Wall Street Zen

AdvanSix (NYSE:ASIX) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

A number of other equities research analysts have also recently commented on ASIX. Truist Financial increased their price objective on shares of AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of AdvanSix in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $29.00.

AdvanSix Price Performance

NYSE:ASIX opened at $17.79 on Friday. The stock’s fifty day moving average is $17.60 and its two-hundred day moving average is $18.25. The company has a market capitalization of $477.91 million, a P/E ratio of 9.83 and a beta of 1.72. AdvanSix has a 52 week low of $14.10 and a 52 week high of $28.46. The company has a quick ratio of 0.52, a current ratio of 1.13 and a debt-to-equity ratio of 0.26.

AdvanSix (NYSE:ASIX) last posted its earnings results on Friday, February 20th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. AdvanSix had a return on equity of 6.97% and a net margin of 3.24%.The company had revenue of $359.95 million for the quarter, compared to the consensus estimate of $340.85 million. Equities analysts expect that AdvanSix will post 4 EPS for the current year.

Institutional Investors Weigh In On AdvanSix

Hedge funds and other institutional investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV acquired a new position in shares of AdvanSix in the fourth quarter valued at approximately $246,000. Empowered Funds LLC grew its stake in AdvanSix by 10.8% in the 4th quarter. Empowered Funds LLC now owns 144,284 shares of the company’s stock worth $2,496,000 after acquiring an additional 14,084 shares during the period. XTX Topco Ltd acquired a new position in AdvanSix in the 4th quarter valued at $443,000. Tudor Investment Corp ET AL purchased a new position in shares of AdvanSix during the 4th quarter worth $984,000. Finally, Polymer Capital Management US LLC acquired a new stake in shares of AdvanSix during the fourth quarter worth $386,000. 86.39% of the stock is currently owned by hedge funds and other 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.