AdvanSix (ASIX) Rating Lowered to Hold at ValuEngine

AdvanSix (NYSE:ASIX) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other equities analysts have also commented on ASIX. Cowen upped their price objective on shares of AdvanSix from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, September 6th. Zacks Investment Research upgraded shares of AdvanSix from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective on the stock in a report on Tuesday, September 12th. Finally, BidaskClub raised shares of AdvanSix from a “hold” rating to a “buy” rating in a research note on Friday, September 15th.

Shares of AdvanSix (NYSE ASIX) traded down $2.03 during mid-day trading on Friday, hitting $41.04. 479,591 shares of the stock traded hands, compared to its average volume of 250,312. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.93 and a current ratio of 1.39. AdvanSix has a 52-week low of $18.86 and a 52-week high of $46.51. The firm has a market cap of $1,251.02, a price-to-earnings ratio of 24.57 and a beta of 3.03.

In other AdvanSix news, Director Michael Marberry bought 539 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were purchased at an average cost of $46.41 per share, with a total value of $25,014.99. Following the purchase, the director now directly owns 16,420 shares in the company, valued at $762,052.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 1,741 shares of company stock worth $74,944. 2.70% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of ASIX. BlackRock Inc. boosted its holdings in shares of AdvanSix by 27.9% in the 2nd quarter. BlackRock Inc. now owns 4,055,127 shares of the company’s stock valued at $126,680,000 after buying an additional 884,435 shares in the last quarter. Teachers Advisors LLC boosted its holdings in shares of AdvanSix by 922.2% in the 2nd quarter. Teachers Advisors LLC now owns 308,758 shares of the company’s stock valued at $9,646,000 after buying an additional 278,553 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of AdvanSix by 16.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,806,649 shares of the company’s stock valued at $56,440,000 after buying an additional 250,688 shares in the last quarter. Northern Trust Corp boosted its stake in AdvanSix by 126.4% during the 2nd quarter. Northern Trust Corp now owns 382,623 shares of the company’s stock worth $11,953,000 after purchasing an additional 213,652 shares during the period. Finally, State Street Corp boosted its stake in AdvanSix by 41.2% during the 2nd quarter. State Street Corp now owns 717,873 shares of the company’s stock worth $22,427,000 after purchasing an additional 209,636 shares during the period. Institutional investors and hedge funds own 71.32% of the company’s stock.

TRADEMARK VIOLATION WARNING: “AdvanSix (ASIX) Rating Lowered to Hold at ValuEngine” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/12/03/advansix-asix-rating-lowered-to-hold-at-valuengine.html.

AdvanSix Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for AdvanSix Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AdvanSix Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply