StockNews.com Upgrades AdvanSix (NYSE:ASIX) to Buy

AdvanSix (NYSE:ASIX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

A number of other analysts also recently issued reports on the stock. UBS Group set a $35.00 price target on shares of AdvanSix in a report on Tuesday, March 18th. Piper Sandler set a $32.00 target price on shares of AdvanSix in a report on Monday.

AdvanSix Price Performance

Shares of ASIX stock traded up $0.96 on Monday, hitting $24.44. 306,563 shares of the stock traded hands, compared to its average volume of 151,863. The firm has a market cap of $655.31 million, a price-to-earnings ratio of 15.18 and a beta of 1.59. AdvanSix has a 52 week low of $18.44 and a 52 week high of $33.00. The firm has a 50 day simple moving average of $21.95 and a two-hundred day simple moving average of $26.98. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.49.

AdvanSix (NYSE:ASIX) last announced its quarterly earnings results on Friday, February 21st. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.40. The company had revenue of $329.06 million for the quarter, compared to the consensus estimate of $377.15 million. AdvanSix had a net margin of 2.91% and a return on equity of 6.26%. As a group, equities research analysts predict that AdvanSix will post 4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AdvanSix news, SVP Achilles B. Kintiroglou sold 4,000 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $22.24, for a total value of $88,960.00. Following the completion of the sale, the senior vice president now directly owns 36,363 shares of the company’s stock, valued at $808,713.12. The trade was a 9.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AdvanSix

Several large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its position in AdvanSix by 2.0% in the 1st quarter. Empowered Funds LLC now owns 161,339 shares of the company’s stock valued at $3,654,000 after buying an additional 3,217 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of AdvanSix by 599,160.0% in the 1st quarter. Jones Financial Companies Lllp now owns 389,519 shares of the company’s stock valued at $8,823,000 after purchasing an additional 389,454 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of AdvanSix by 58.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 31,423 shares of the company’s stock valued at $712,000 after purchasing an additional 11,617 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of AdvanSix by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock valued at $343,000 after purchasing an additional 604 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of AdvanSix by 9.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 105,828 shares of the company’s stock valued at $2,397,000 after purchasing an additional 9,388 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

AdvanSix Company Profile

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