AdvanSix Inc (ASIX) Rating Increased to Buy at BidaskClub
AdvanSix Inc (NASDAQ:ASIX) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday.
A number of other analysts have also issued reports on the stock. Cowen and Company initiated coverage on shares of AdvanSix in a research note on Friday, June 23rd. They issued an “outperform” rating and a $37.00 price target for the company. Zacks Investment Research upgraded shares of AdvanSix from a “hold” rating to a “strong-buy” rating and set a $39.00 target price for the company in a research note on Tuesday.
Shares of AdvanSix (ASIX) traded up 0.99% on Friday, hitting $36.55. 370,092 shares of the stock traded hands. The firm’s 50-day moving average is $35.19 and its 200 day moving average is $31.95. AdvanSix has a 12-month low of $13.70 and a 12-month high of $36.75. The firm has a market cap of $1.11 billion and a P/E ratio of 25.10.
AdvanSix (NASDAQ:ASIX) last issued its quarterly earnings results on Thursday, August 10th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. The business had revenue of $361.44 million during the quarter. AdvanSix had a net margin of 7.13% and a return on equity of 40.03%. Equities research analysts forecast that AdvanSix will post $2.83 EPS for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in ASIX. Russell Investments Group Ltd. increased its stake in AdvanSix by 117.2% during the second quarter. Russell Investments Group Ltd. now owns 147,395 shares of the company’s stock valued at $4,605,000 after purchasing an additional 79,529 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in AdvanSix by 3.9% during the second quarter. Great West Life Assurance Co. Can now owns 45,170 shares of the company’s stock valued at $1,409,000 after purchasing an additional 1,699 shares during the last quarter. Spark Investment Management LLC increased its stake in AdvanSix by 261.0% during the second quarter. Spark Investment Management LLC now owns 357,000 shares of the company’s stock valued at $11,152,000 after purchasing an additional 258,100 shares during the last quarter. Texas Permanent School Fund bought a new stake in AdvanSix during the second quarter valued at $694,000. Finally, Sei Investments Co. increased its stake in AdvanSix by 69.4% during the second quarter. Sei Investments Co. now owns 15,836 shares of the company’s stock valued at $494,000 after purchasing an additional 6,490 shares during the last quarter.
AdvanSix Inc is an integrated manufacturer of Nylon 6. The Company also sells a variety of other products, all of which are produced as part of the Nylon 6 resin manufacturing process primarily, including caprolactam, ammonium sulfate fertilizers and other chemical intermediates. The Company operates primarily through its integrated manufacturing sites located in Frankford, Pennsylvania, Hopewell, Virginia, and Chesterfield, Virginia.
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