Truist Financial Has Lowered Expectations for AdvanSix (NYSE:ASIX) Stock Price

AdvanSix (NYSE:ASIX) had its price objective decreased by equities research analysts at Truist Financial from $20.00 to $18.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price target would indicate a potential upside of 10.40% from the company’s current price.

ASIX has been the subject of several other reports. Wall Street Zen lowered AdvanSix from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research upgraded AdvanSix to a “hold” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings cut AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AdvanSix has a consensus rating of “Reduce” and a consensus target price of $21.50.

AdvanSix Stock Down 1.1%

Shares of NYSE ASIX traded down $0.17 during trading on Monday, hitting $16.30. The stock had a trading volume of 188,244 shares, compared to its average volume of 354,488. The firm has a fifty day moving average of $20.64 and a two-hundred day moving average of $20.82. The company has a market capitalization of $439.58 million, a PE ratio of -24.66 and a beta of 1.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.28 and a quick ratio of 0.70. AdvanSix has a 12 month low of $14.10 and a 12 month high of $26.73.

AdvanSix (NYSE:ASIX) last released its quarterly earnings results on Friday, August 7th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.37). AdvanSix had a negative net margin of 1.14% and a negative return on equity of 1.28%. The firm had revenue of $421.28 million for the quarter, compared to the consensus estimate of $452.00 million. As a group, equities research analysts forecast that AdvanSix will post 0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On AdvanSix

Several institutional investors and hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. increased its position in AdvanSix by 60.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock valued at $31,000 after purchasing an additional 483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 worth $343,000 after purchasing an additional 604 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of AdvanSix by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,862 shares of the company’s stock worth $234,000 after purchasing an additional 746 shares during the period. Mariner LLC boosted its stake in shares of AdvanSix by 10.2% during the 4th quarter. Mariner LLC now owns 11,065 shares of the company’s stock valued at $191,000 after purchasing an additional 1,023 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in AdvanSix by 90.0% in the fourth quarter. Hantz Financial Services Inc. now owns 2,358 shares of the company’s stock worth $41,000 after buying an additional 1,117 shares in the last quarter. 86.39% of the stock is owned by institutional investors.

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.