AdvanSix (NYSE:ASIX) Hits New 12-Month High - Still a Buy?

Key Points

• 52-week high: AdvanSix shares traded as high as $26.43 (last at $26.17) on volume of 91,288 shares, marking a new 12-month high.
• Analyst sentiment is mixed—there is one Buy and two Hold ratings, with a consensus rating of “Hold” and a consensus price target of $25.67.
• The company recently beat quarterly estimates (EPS $0.03 vs. -$0.06 est.; revenue $359.95M vs. $340.85M), has a market cap of about $707M and a P/E of 14.5, and pays a quarterly dividend yielding ~2.4%.

AdvanSix (NYSE:ASIX - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $26.43 and last traded at $26.17, with a volume of 91288 shares trading hands. The stock had previously closed at $25.42.

Analyst Ratings Changes

ASIX has been the subject of a number of research analyst reports. Loop Capital set a $25.00 target price on AdvanSix in a research report on Thursday, March 12th. Weiss Ratings upgraded AdvanSix from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, April 29th. Truist Financial lifted their price target on AdvanSix from $19.00 to $20.00 and gave the company a "hold" rating in a research note on Monday, February 23rd. Finally, Wall Street Zen upgraded AdvanSix from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, AdvanSix has an average rating of "Hold" and a consensus price target of $25.67.

AdvanSix Price Performance

The firm has a market cap of $707.40 million, a price-to-earnings ratio of 14.50 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.52 and a current ratio of 1.13. The business has a 50 day simple moving average of $21.87 and a 200-day simple moving average of $18.85.

AdvanSix (NYSE:ASIX - Get Free Report) last announced its earnings results on Friday, February 20th. The company reported $0.03 earnings per share 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 firm had revenue of $359.95 million for the quarter, compared to the consensus estimate of $340.85 million.

AdvanSix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Monday, March 9th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, March 9th. AdvanSix's payout ratio is presently 35.36%.

Hedge Funds Weigh In On AdvanSix

Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in shares of AdvanSix in the 2nd quarter worth approximately $29,000. Osaic Holdings Inc. lifted its stake in AdvanSix by 60.2% in the second quarter. Osaic Holdings Inc. now owns 1,285 shares of the company's stock valued at $31,000 after purchasing an additional 483 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in AdvanSix by 90.0% in the fourth quarter. Hantz Financial Services Inc. now owns 2,358 shares of the company's stock valued at $41,000 after purchasing an additional 1,117 shares during the last quarter. Versant Capital Management Inc lifted its stake in AdvanSix by 185.2% in the third quarter. Versant Capital Management Inc now owns 2,142 shares of the company's stock valued at $42,000 after purchasing an additional 1,391 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in AdvanSix by 27,537.5% in the third quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company's stock valued at $43,000 after purchasing an additional 2,203 shares during the last quarter. Hedge funds and other institutional investors own 86.39% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.