AdvanSix (NYSE:ASIX) Rating Increased to Hold at ValuEngine

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ValuEngine upgraded shares of AdvanSix (NYSE:ASIX) from a sell rating to a hold rating in a research report sent to investors on Thursday morning, ValuEngine reports.

Separately, Zacks Investment Research cut shares of AdvanSix from a hold rating to a strong sell rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. AdvanSix has an average rating of Hold and an average target price of $34.00.

ASIX opened at $25.06 on Thursday. The company has a quick ratio of 0.50, a current ratio of 1.16 and a debt-to-equity ratio of 0.82. The company has a market cap of $710.70 million, a PE ratio of 11.99 and a beta of 1.89. The company’s 50-day moving average is $25.23. AdvanSix has a 52-week low of $22.57 and a 52-week high of $41.45.

AdvanSix (NYSE:ASIX) last posted its earnings results on Thursday, August 1st. The company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.14. The business had revenue of $345.22 million for the quarter, compared to analysts’ expectations of $344.33 million. AdvanSix had a net margin of 4.36% and a return on equity of 14.80%. The business’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. Research analysts forecast that AdvanSix will post 2.25 earnings per share for the current fiscal year.

In other AdvanSix news, Director Michael Marberry acquired 3,700 shares of the stock in a transaction dated Monday, May 20th. The shares were purchased at an average price of $26.99 per share, for a total transaction of $99,863.00. Following the purchase, the director now directly owns 39,996 shares of the company’s stock, valued at $1,079,492.04. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel F. Sansone acquired 4,000 shares of the stock in a transaction dated Friday, May 17th. The stock was acquired at an average price of $27.37 per share, for a total transaction of $109,480.00. Following the purchase, the director now directly owns 18,861 shares in the company, valued at $516,225.57. The disclosure for this purchase can be found here. 0.56% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of ASIX. Norges Bank bought a new position in shares of AdvanSix in the 4th quarter worth approximately $16,966,000. AltraVue Capital LLC increased its holdings in AdvanSix by 214.1% in the 2nd quarter. AltraVue Capital LLC now owns 132,681 shares of the company’s stock worth $3,241,000 after acquiring an additional 90,441 shares in the last quarter. Deutsche Bank AG increased its holdings in AdvanSix by 133.8% in the 4th quarter. Deutsche Bank AG now owns 154,528 shares of the company’s stock worth $3,755,000 after acquiring an additional 88,429 shares in the last quarter. AJO LP purchased a new stake in AdvanSix in the 1st quarter worth approximately $1,965,000. Finally, Tieton Capital Management LLC purchased a new stake in AdvanSix in the 1st quarter worth approximately $1,669,000. Hedge funds and other institutional investors own 82.74% of the company’s stock.

AdvanSix Company Profile

AdvanSix Inc manufactures and sells polymer resins. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce engineered plastics, fibers, filaments, and films. The company also provides caprolactam to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone, which is used by customers in the production of adhesives, paints, coatings, solvents, herbicides, and other engineered plastic resins, as well as other intermediate chemicals, including phenol, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, cyclohexanol, acetaldehyde oxime, 2-pentanone oxime, sulfuric acid, ammonia, and carbon dioxide.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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