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

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Key Points

  • Wall Street Zen downgraded AdvanSix from buy to hold, adding to a broadly cautious analyst view. The stock now carries an average Hold rating with a consensus price target of $25.67.
  • AdvanSix’s latest quarter showed mixed results: EPS beat expectations at $0.03 versus an expected loss, and revenue came in above estimates at $359.95 million. However, profitability remains modest, which may be tempering investor sentiment.
  • The company also recently announced a $0.16 quarterly dividend and is evaluating an expansion of its ammonia platform into the diesel exhaust fluid market, potentially creating a future growth opportunity.
  • Interested in AdvanSix? Here are five stocks we like better.

AdvanSix (NYSE:ASIX - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Other analysts also recently issued research reports about the stock. Loop Capital set a $25.00 price objective on shares of AdvanSix in a report on Thursday, March 12th. Weiss Ratings raised shares of AdvanSix from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, April 29th. Finally, Truist Financial boosted their price objective on shares of AdvanSix from $19.00 to $20.00 and gave the company a "hold" rating in a report on Monday, February 23rd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, AdvanSix currently has an average rating of "Hold" and a consensus price target of $25.67.

Check Out Our Latest Research Report on ASIX

AdvanSix Stock Performance

Shares of ASIX stock opened at $20.32 on Friday. The company has a market capitalization of $547.80 million, a price-to-earnings ratio of 11.23 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 company has a 50-day simple moving average of $22.28 and a 200 day simple moving average of $18.96. AdvanSix has a 52 week low of $14.10 and a 52 week high of $26.73.

AdvanSix (NYSE:ASIX - Get Free Report) last posted its quarterly earnings data on Friday, February 20th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.09. The firm had revenue of $359.95 million during the quarter, compared to the consensus estimate of $340.85 million. AdvanSix had a net margin of 3.24% and a return on equity of 6.97%.

Hedge Funds Weigh In On AdvanSix

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of AdvanSix by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,311,006 shares of the company's stock valued at $31,988,000 after buying an additional 8,131 shares in the last quarter. Waterfront Wealth Inc. raised its position in shares of AdvanSix by 36.7% in the 1st quarter. Waterfront Wealth Inc. now owns 91,905 shares of the company's stock valued at $2,242,000 after buying an additional 24,655 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of AdvanSix in the 4th quarter valued at approximately $612,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of AdvanSix in the 4th quarter valued at approximately $246,000. Finally, Empowered Funds LLC raised its position in shares of AdvanSix by 10.8% in the 4th quarter. Empowered Funds LLC now owns 144,284 shares of the company's stock valued at $2,496,000 after buying an additional 14,084 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

More AdvanSix News

Here are the key news stories impacting AdvanSix this week:

AdvanSix Company Profile

(Get Free Report)

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.

See Also

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