Truist Financial Issues Pessimistic Forecast for AdvanSix (NYSE:ASIX) Stock Price

Key Points

• Truist Financial cut its AdvanSix price target from $18 to $16 and maintained a Hold rating, implying 4.3% downside from the stock’s current price.
• Analyst sentiment is generally cautious: MarketBeat reports an average “Reduce” rating and a $20.50 average price target, with two Hold ratings and one Sell rating.
• AdvanSix reported a quarterly loss of $0.24 per share, missing the $0.04 loss consensus, while revenue of $430.81 million topped expectations of $426 million.

AdvanSix (NYSE:ASIX - Get Free Report) had its target price decreased by equities research analysts at Truist Financial from $18.00 to $16.00 in a research report issued on Monday, Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's price objective suggests a potential downside of 4.30% from the stock's current price.

ASIX has been the subject of a number of other research reports. Wall Street Zen lowered shares of AdvanSix from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Weiss Ratings downgraded shares of AdvanSix from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, August 21st. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $20.50.

AdvanSix Price Performance

ASIX stock opened at $16.72 on Monday. AdvanSix has a 1 year low of $14.10 and a 1 year high of $26.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.20 and a quick ratio of 0.70. The firm has a market capitalization of $451.58 million, a PE ratio of -19.90 and a beta of 1.27. The business has a 50 day simple moving average of $16.26 and a 200-day simple moving average of $19.40.

AdvanSix (NYSE:ASIX - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.20). AdvanSix had a negative net margin of 1.40% and a negative return on equity of 2.29%. The company had revenue of $430.81 million during the quarter, compared to analysts' expectations of $426.00 million. Equities research analysts anticipate that AdvanSix will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AdvanSix

Large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of AdvanSix in the 2nd quarter valued at approximately $48,517,000. Dimensional Fund Advisors LP lifted its holdings 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 worth $31,988,000 after acquiring an additional 8,131 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of AdvanSix by 78.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 728,292 shares of the company's stock worth $17,770,000 after purchasing an additional 319,528 shares during the period. Solas Capital Management LLC boosted its position in shares of AdvanSix by 10.5% during the 2nd quarter. Solas Capital Management LLC now owns 571,324 shares of the company's stock worth $11,358,000 after purchasing an additional 54,295 shares during the period. Finally, Empowered Funds LLC purchased a new position in shares of AdvanSix during the 2nd quarter worth approximately $6,017,000. Institutional investors and hedge funds own 86.39% of the company's stock.

AdvanSix Company Profile

AdvanSix Inc NYSE: ASIX is a diversified chemistry company that manufactures and sells polymer resins, chemical intermediates and performance products. Its portfolio includes nylon 6 resin, caprolactam, ammonium sulfate fertilizer, acetone and other chemical products used in a range of industrial and consumer applications.

The company's nylon 6 products are used in fibers, engineered plastics, films, automotive components, electrical and electronics products, and other applications. Its chemical intermediates support the production of coatings, adhesives, solvents and other materials, while its ammonium sulfate products are marketed as nitrogen and sulfur fertilizers for agricultural use.

AdvanSix was established as an independent, publicly traded company in 2016 following its separation from Honeywell International.

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.