AdvanSix (NYSE:ASIX) Downgraded to Sell Rating by Wall Street Zen

AdvanSix (NYSE:ASIX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

ASIX has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d+)” rating on shares of AdvanSix in a report on Monday, December 29th. Truist Financial began coverage on shares of AdvanSix in a research report on Thursday, January 15th. They set a “hold” rating and a $19.00 target price for the company. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.67.

AdvanSix Price Performance

ASIX traded down $0.04 during midday trading on Friday, reaching $17.06. 323,953 shares of the company’s stock were exchanged, compared to its average volume of 318,540. The company has a quick ratio of 0.74, a current ratio of 1.36 and a debt-to-equity ratio of 0.31. The business has a 50-day simple moving average of $16.46 and a two-hundred day simple moving average of $18.86. The firm has a market capitalization of $458.12 million, a price-to-earnings ratio of 8.88 and a beta of 1.71. AdvanSix has a one year low of $14.10 and a one year high of $32.58.

AdvanSix (NYSE:ASIX) last issued its earnings results on Friday, November 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.32). The company had revenue of $374.47 million during the quarter, compared to analyst estimates of $365.00 million. AdvanSix had a return on equity of 7.14% and a net margin of 3.52%. As a group, research analysts predict that AdvanSix will post 4 EPS for the current year.

Institutional Trading of AdvanSix

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in AdvanSix in the 2nd quarter worth approximately $29,000. Osaic Holdings Inc. increased its stake in shares of AdvanSix by 60.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock valued at $31,000 after buying an additional 483 shares during the period. Versant Capital Management Inc increased its stake in shares of AdvanSix by 185.2% in the 3rd quarter. Versant Capital Management Inc now owns 2,142 shares of the company’s stock valued at $42,000 after buying an additional 1,391 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of AdvanSix by 27,537.5% during the third quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company’s stock worth $43,000 after acquiring an additional 2,203 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of AdvanSix by 144.1% during the second quarter. Tower Research Capital LLC TRC now owns 2,385 shares of the company’s stock valued at $57,000 after acquiring an additional 1,408 shares during the period. 86.39% of the stock is owned by institutional investors.

AdvanSix Company Profile

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.