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

Key Points

• Wall Street Zen upgraded AdvanSix from a "hold" to a "buy" rating, though the consensus on MarketBeat remains a Hold with an average target price of $25.67.
• AdvanSix beat expectations for the quarter with EPS of $0.03 versus a -$0.06 estimate and revenue of $359.95M versus $340.85M, while the stock trades near $23.94 with a market cap of $643.27M and a P/E of 13.23.
• Institutional investors have been active—Aegis and Millennium established large new stakes and firms like Goldman Sachs and AllianceBernstein materially increased positions—leaving institutions owning about 86.39% of the company.

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

A number of other research analysts have also recently weighed in on the stock. Weiss Ratings raised shares of AdvanSix from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, March 25th. Loop Capital set a $25.00 price objective on shares of AdvanSix in a report on Thursday, March 12th. Finally, Truist Financial lifted 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 research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, AdvanSix currently has an average rating of "Hold" and a consensus target price of $25.67.

AdvanSix Stock Up 2.6%

ASIX opened at $23.94 on Friday. AdvanSix has a fifty-two week low of $14.10 and a fifty-two week high of $25.94. 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 fifty day moving average of $20.45 and a two-hundred day moving average of $18.53. The stock has a market capitalization of $643.27 million, a price-to-earnings ratio of 13.23 and a beta of 1.43.

AdvanSix (NYSE:ASIX - Get Free Report) last released its quarterly earnings data on Friday, February 20th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.09. AdvanSix had a net margin of 3.24% and a return on equity of 6.97%. The company had revenue of $359.95 million during the quarter, compared to analysts' expectations of $340.85 million. On average, research analysts expect that AdvanSix will post 4 earnings per share for the current year.

Institutional Trading of AdvanSix

Several large investors have recently bought and sold shares of ASIX. Aegis Financial Corp purchased a new stake in AdvanSix during the 4th quarter valued at about $20,927,000. Millennium Management LLC purchased a new stake in AdvanSix during the 4th quarter valued at about $11,479,000. Alliancebernstein L.P. grew its stake in AdvanSix by 55.3% during the 3rd quarter. Alliancebernstein L.P. now owns 948,491 shares of the company's stock valued at $18,382,000 after acquiring an additional 337,908 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in AdvanSix during the 3rd quarter valued at about $6,054,000. Finally, Goldman Sachs Group Inc. grew its stake in AdvanSix by 149.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 378,610 shares of the company's stock valued at $6,550,000 after acquiring an additional 226,756 shares in 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.

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