Truist Financial Initiates Coverage on AdvanSix (NYSE:ASIX)

Stock analysts at Truist Financial started coverage on shares of AdvanSix (NYSE:ASIX) in a research report issued on Thursday, MarketBeat Ratings reports. The firm set a “hold” rating and a $19.00 price target on the stock. Truist Financial’s price objective points to a potential upside of 11.54% from the company’s previous close.

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of AdvanSix in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AdvanSix currently has a consensus rating of “Hold” and an average target price of $28.67.

AdvanSix Stock Performance

NYSE ASIX opened at $17.03 on Thursday. The firm has a market capitalization of $457.53 million, a P/E ratio of 8.87 and a beta of 1.71. The company has a current ratio of 1.36, a quick ratio of 0.74 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average price is $16.39 and its two-hundred day moving average price is $19.14. AdvanSix has a 1 year low of $14.10 and a 1 year high of $32.58.

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

Institutional Trading of AdvanSix

Several hedge funds and other institutional investors have recently bought and sold shares of ASIX. Alliancebernstein L.P. grew its position in shares of AdvanSix by 55.3% during the 3rd quarter. Alliancebernstein L.P. now owns 948,491 shares of the company’s stock worth $18,382,000 after purchasing an additional 337,908 shares in the last quarter. Invenomic Capital Management LP bought a new stake in shares of AdvanSix in the third quarter valued at approximately $6,054,000. Arrowstreet Capital Limited Partnership grew its position in AdvanSix by 165.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 413,813 shares of the company’s stock worth $9,828,000 after buying an additional 257,789 shares in the last quarter. Two Sigma Investments LP grew its position in AdvanSix by 359.8% during the third quarter. Two Sigma Investments LP now owns 192,972 shares of the company’s stock worth $3,740,000 after buying an additional 151,003 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in AdvanSix by 133.4% during the 2nd quarter. Bank of America Corp DE now owns 238,874 shares of the company’s stock worth $5,673,000 after acquiring an additional 136,523 shares during the period. Institutional investors and hedge funds own 86.39% of the company’s stock.

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.