Wall Street Zen Upgrades AdvanSix (NYSE:ASIX) to “Buy”

AdvanSix (NYSE:ASIX) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

Several other equities research analysts also recently weighed in on ASIX. Truist Financial raised their price objective on AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a report on Monday, February 23rd. Weiss Ratings restated a “sell (d+)” rating on shares of AdvanSix in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, AdvanSix currently has an average rating of “Hold” and an average price target of $29.00.

AdvanSix Stock Up 3.2%

Shares of NYSE ASIX opened at $18.40 on Friday. The stock has a 50-day moving average price of $17.63 and a two-hundred day moving average price of $18.23. AdvanSix has a 12 month low of $14.10 and a 12 month high of $28.46. The company has a current ratio of 1.13, a quick ratio of 0.52 and a debt-to-equity ratio of 0.26. The company has a market cap of $494.41 million, a price-to-earnings ratio of 10.17 and a beta of 1.66.

AdvanSix (NYSE:ASIX) last released its quarterly earnings data on Friday, February 20th. The company reported $0.03 earnings per share (EPS) for the quarter, topping 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 business had revenue of $359.95 million during the quarter, compared to analysts’ expectations of $340.85 million. As a group, analysts forecast that AdvanSix will post 4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its position in AdvanSix by 165.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 413,813 shares of the company’s stock valued at $9,828,000 after buying an additional 257,789 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in AdvanSix by 13.1% in the second quarter. Teacher Retirement System of Texas now owns 58,447 shares of the company’s stock worth $1,388,000 after acquiring an additional 6,755 shares in the last quarter. CenterBook Partners LP acquired a new stake in AdvanSix in the second quarter valued at approximately $2,967,000. Brandywine Global Investment Management LLC grew its stake in AdvanSix by 19.9% in the second quarter. Brandywine Global Investment Management LLC now owns 116,740 shares of the company’s stock valued at $2,773,000 after acquiring an additional 19,370 shares during the period. Finally, Envestnet Asset Management Inc. bought a new stake in shares of AdvanSix during the second quarter valued at approximately $266,000. Institutional investors and hedge funds 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.