AdvanSix (NYSE:ASIX) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded AdvanSix to “Sell” from “Hold.” MarketBeat reports an overall “Reduce” rating, with two Hold ratings and one Sell rating, and an average price target of $22.50.
• AdvanSix shares opened at $16.53, down 17.9%, trading below their 50-day and 200-day moving averages. The stock has a 52-week range of $14.10 to $26.73 and a market capitalization of approximately $445.5 million.
• The company’s latest quarterly results fell short of expectations, reporting $0.19 in earnings per share versus a $0.56 consensus and revenue of $421.28 million versus an expected $452 million. Institutional investors own 86.39% of the shares.

AdvanSix (NYSE:ASIX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

ASIX has been the topic of several other reports. Zacks Research upgraded AdvanSix to a "hold" rating in a research note on Tuesday, May 12th. Weiss Ratings cut AdvanSix from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $22.50.

AdvanSix Trading Down 17.9%

Shares of NYSE ASIX opened at $16.53 on Friday. The firm's 50 day moving average price is $20.64 and its 200-day moving average price is $20.79. AdvanSix has a 52-week low of $14.10 and a 52-week high of $26.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.68 and a current ratio of 1.23. The company has a market cap of $445.54 million, a PE ratio of 44.67 and a beta of 1.29.

AdvanSix (NYSE:ASIX - Get Free Report) last announced 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 net margin of 0.67% and a return on equity of 2.18%. The firm had revenue of $421.28 million for the quarter, compared to the consensus estimate of $452.00 million. On average, equities research analysts expect that AdvanSix will post 0.85 EPS for the current fiscal year.

Institutional Trading of AdvanSix

Several large investors have recently added to or reduced their stakes in ASIX. BlackRock Inc. bought a new position in AdvanSix in the second quarter worth approximately $48,517,000. Vanguard Group Inc. boosted its stake in shares of AdvanSix by 0.5% during 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 grew its position 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 valued at $31,988,000 after acquiring an additional 8,131 shares during the period. Aegis Financial Corp bought a new stake in shares of AdvanSix during the 4th quarter valued at $20,927,000. Finally, Alliancebernstein L.P. increased its stake in shares of AdvanSix by 55.3% in the 3rd quarter. Alliancebernstein L.P. now owns 948,491 shares of the company's stock worth $18,382,000 after purchasing an additional 337,908 shares in the last quarter. 86.39% of the stock is currently owned by 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.

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