AdvanSix Inc (ASIX) Given $37.00 Consensus Target Price by Brokerages
AdvanSix Inc (NYSE:ASIX) has been given an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company. AdvanSix’s rating score has declined by 100% from three months ago as a result of various analysts’ upgrades and downgrades.
Brokerages have set a 12-month consensus target price of $37.00 for the company and are anticipating that the company will post $0.39 EPS for the current quarter, according to Zacks. Zacks has also given AdvanSix an industry rank of 213 out of 255 based on the ratings given to its competitors.
Several research firms recently weighed in on ASIX. Cowen cut shares of AdvanSix from an “outperform” rating to a “market perform” rating and set a $33.00 target price for the company. in a research note on Wednesday, February 6th. Zacks Investment Research cut shares of AdvanSix from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 11th. Stifel Nicolaus began coverage on shares of AdvanSix in a research note on Monday, December 10th. They issued a “buy” rating and a $38.00 target price for the company. Finally, ValuEngine upgraded shares of AdvanSix from a “sell” rating to a “hold” rating in a research note on Thursday, December 13th.
AdvanSix (NYSE:ASIX) last released its earnings results on Friday, February 22nd. The company reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.07). AdvanSix had a net margin of 4.37% and a return on equity of 16.19%. The company had revenue of $386.63 million during the quarter, compared to the consensus estimate of $374.07 million. During the same quarter in the previous year, the business posted $0.60 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Research analysts forecast that AdvanSix will post 2.53 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in AdvanSix by 2.5% during the third quarter. BlackRock Inc. now owns 4,379,974 shares of the company’s stock worth $148,700,000 after purchasing an additional 108,342 shares during the period. JPMorgan Chase & Co. lifted its stake in AdvanSix by 10.1% during the third quarter. JPMorgan Chase & Co. now owns 1,592,172 shares of the company’s stock worth $54,054,000 after purchasing an additional 146,123 shares during the period. Dimensional Fund Advisors LP lifted its stake in AdvanSix by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 943,169 shares of the company’s stock worth $22,957,000 after purchasing an additional 35,803 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in AdvanSix by 14.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 768,409 shares of the company’s stock worth $18,704,000 after purchasing an additional 94,694 shares during the period. Finally, Norges Bank bought a new position in AdvanSix during the fourth quarter worth about $16,966,000. Hedge funds and other institutional investors own 83.49% of the company’s stock.
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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