Truist Financial Issues Positive Forecast for AdvanSix (NYSE:ASIX) Stock Price

AdvanSix (NYSE:ASIX) had its price objective raised by investment analysts at Truist Financial from $19.00 to $20.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price indicates a potential upside of 6.36% from the stock’s previous close.

Several other research firms have also recently commented on ASIX. Wall Street Zen upgraded AdvanSix from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d+)” rating on shares of AdvanSix in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.00.

AdvanSix Stock Up 4.5%

Shares of AdvanSix stock opened at $18.80 on Monday. AdvanSix has a 1-year low of $14.10 and a 1-year high of $31.03. The company has a market capitalization of $505.08 million, a PE ratio of 10.39 and a beta of 1.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.13 and a quick ratio of 0.52. The business has a 50-day moving average of $17.43 and a 200-day moving average of $18.27.

AdvanSix (NYSE:ASIX) last released its quarterly earnings results on Friday, February 20th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. AdvanSix had a return on equity of 6.97% and a net margin of 3.24%.The business had revenue of $359.95 million for the quarter, compared to analysts’ expectations of $340.85 million. As a group, equities analysts forecast that AdvanSix will post 4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Osaic Holdings Inc. grew its position in shares of 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 buying an additional 483 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in AdvanSix by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock worth $343,000 after acquiring an additional 604 shares during the last quarter. Sheets Smith Wealth Management boosted its stake in AdvanSix by 3.8% in the fourth quarter. Sheets Smith Wealth Management now owns 17,878 shares of the company’s stock valued at $309,000 after acquiring an additional 659 shares during the period. The Manufacturers Life Insurance Company boosted its stake in AdvanSix by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 9,862 shares of the company’s stock valued at $234,000 after acquiring an additional 746 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its holdings in shares of AdvanSix by 8.8% during the third quarter. NorthCrest Asset Manangement LLC now owns 12,576 shares of the company’s stock valued at $257,000 after purchasing an additional 1,022 shares during the last quarter. 86.39% of the stock is currently 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.