AdvanSix (NYSE:ASIX) Upgraded at ValuEngine

AdvanSix (NYSE:ASIX) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.

Separately, Zacks Investment Research cut shares of AdvanSix from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $34.00.

Shares of NYSE:ASIX traded down $1.19 during midday trading on Thursday, reaching $24.45. The company’s stock had a trading volume of 231,800 shares, compared to its average volume of 163,044. The stock has a 50 day moving average of $25.26. AdvanSix has a fifty-two week low of $22.57 and a fifty-two week high of $41.45. The firm has a market capitalization of $697.80 million, a price-to-earnings ratio of 11.70 and a beta of 1.89. The company has a quick ratio of 0.50, a current ratio of 1.05 and a debt-to-equity ratio of 0.74.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.14. AdvanSix had a net margin of 5.09% and a return on equity of 17.96%. The business had revenue of $345.22 million for the quarter, compared to analysts’ expectations of $344.33 million. During the same period in the prior year, the company posted $0.91 EPS. The business’s revenue for the quarter was down 13.8% on a year-over-year basis. As a group, sell-side analysts anticipate that AdvanSix will post 2.25 EPS for the current year.

In other news, Director Daniel F. Sansone purchased 4,000 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were bought at an average cost of $27.37 per share, with a total value of $109,480.00. Following the purchase, the director now directly owns 18,861 shares of the company’s stock, valued at $516,225.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Marberry purchased 3,700 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were purchased at an average cost of $26.99 per share, for a total transaction of $99,863.00. Following the completion of the purchase, the director now directly owns 39,996 shares in the company, valued at $1,079,492.04. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Royal London Asset Management Ltd. acquired a new stake in AdvanSix in the first quarter valued at approximately $39,000. Quantamental Technologies LLC acquired a new stake in shares of AdvanSix during the first quarter worth approximately $80,000. Flagship Harbor Advisors LLC grew its position in shares of AdvanSix by 12.6% during the second quarter. Flagship Harbor Advisors LLC now owns 4,667 shares of the company’s stock worth $114,000 after buying an additional 524 shares in the last quarter. Convergence Investment Partners LLC acquired a new stake in shares of AdvanSix during the second quarter worth approximately $162,000. Finally, BNP Paribas Arbitrage SA grew its position in shares of AdvanSix by 298.1% during the first quarter. BNP Paribas Arbitrage SA now owns 6,334 shares of the company’s stock worth $181,000 after buying an additional 4,743 shares in the last quarter. 82.72% of the stock is currently owned by institutional investors.

AdvanSix Company Profile

AdvanSix Inc manufactures and sells polymer resins. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce engineered plastics, fibers, filaments, and films. The company also provides caprolactam to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone, which is used by customers in the production of adhesives, paints, coatings, solvents, herbicides, and other engineered plastic resins, as well as other intermediate chemicals, including phenol, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, cyclohexanol, acetaldehyde oxime, 2-pentanone oxime, sulfuric acid, ammonia, and carbon dioxide.

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