Zacks Investment Research lowered shares of AdvanSix (NYSE:ASIX) from a buy rating to a hold rating in a research note published on Friday.
According to Zacks, “AdvanSix Inc. is a producer and supplier of Nylon 6 materials. The company’s polymer resin sold under the Aegis(R) brand to produce engineered plastics, fibers, filaments and films which in turn used in end products such as automotive and electronic components, carpets, sports apparel, fishing nets and food as well as industrial packaging. AdvanSix also produces caprolactam, the main feedstock for producing nylon; Caprannylon film(R); Sulf-N (R) ammonium sulfate fertilizers and chemical intermediates, including phenol, acetone, and Nadone (R) cyclohexanone. AdvanSix Inc. is based in Morris Plains, United States. “
A number of other analysts have also recently weighed in on the company. ValuEngine upgraded AdvanSix from a hold rating to a buy rating in a research report on Wednesday, January 10th. Cowen dropped their price target on AdvanSix from $47.00 to $41.00 and set an outperform rating on the stock in a research report on Thursday, April 12th.
Shares of NYSE ASIX opened at $37.51 on Friday. AdvanSix has a 52-week low of $25.01 and a 52-week high of $46.51. The company has a market cap of $1,140.94, a price-to-earnings ratio of 12.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.87 and a current ratio of 1.31.
AdvanSix (NYSE:ASIX) last announced its quarterly earnings data on Friday, February 23rd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.10. The firm had revenue of $370.39 million for the quarter, compared to analysts’ expectations of $365.40 million. AdvanSix had a return on equity of 32.17% and a net margin of 9.94%. The company’s revenue was up 42.8% compared to the same quarter last year. equities research analysts predict that AdvanSix will post 3.28 EPS for the current fiscal year.
In related news, Director Michael Marberry purchased 685 shares of the company’s stock in a transaction dated Friday, April 6th. The shares were acquired at an average cost of $36.50 per share, for a total transaction of $25,002.50. Following the transaction, the director now owns 19,424 shares of the company’s stock, valued at $708,976. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have bought a total of 2,688 shares of company stock worth $99,935 over the last quarter. Insiders own 2.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Raymond James & Associates grew its holdings in AdvanSix by 4.7% in the 4th quarter. Raymond James & Associates now owns 30,430 shares of the company’s stock worth $1,280,000 after buying an additional 1,369 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in AdvanSix by 2.3% in the 4th quarter. Driehaus Capital Management LLC now owns 103,128 shares of the company’s stock worth $4,339,000 after buying an additional 2,284 shares in the last quarter. Macquarie Group Ltd. bought a new position in AdvanSix in the 3rd quarter worth approximately $123,000. Globeflex Capital L P boosted its stake in AdvanSix by 5.5% during the 4th quarter. Globeflex Capital L P now owns 61,786 shares of the company’s stock valued at $2,599,000 after purchasing an additional 3,226 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in AdvanSix by 76.0% during the 4th quarter. LPL Financial LLC now owns 8,991 shares of the company’s stock valued at $378,000 after purchasing an additional 3,883 shares in the last quarter. 77.97% of the stock is owned by institutional investors and hedge funds.
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AdvanSix Company Profile
AdvanSix Inc manufactures and sells polymer resins in the United States. 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, ammonium sulfate fertilizers, and acetone, 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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