Truist Financial Forecasts Strong Price Appreciation for AdvanSix (NYSE:ASIX) Stock

AdvanSix (NYSE:ASIX) had its price objective lifted by equities research analysts at Truist Financial from $19.00 to $20.00 in a report released on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 11.76% from the stock’s current price.

A number of other research firms have also issued reports on ASIX. Wall Street Zen raised shares of AdvanSix from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d+)” rating on shares of AdvanSix in a research note on Monday, December 29th. One equities 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 stock. According to MarketBeat.com, AdvanSix presently has a consensus rating of “Hold” and an average price target of $29.00.

AdvanSix Stock Performance

Shares of ASIX opened at $17.90 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.52 and a current ratio of 1.13. The stock has a 50-day moving average of $17.51 and a two-hundred day moving average of $18.26. The stock has a market cap of $480.87 million, a P/E ratio of 9.89 and a beta of 1.72. AdvanSix has a one year low of $14.10 and a one year high of $29.39.

AdvanSix (NYSE:ASIX) last announced its quarterly earnings data on Friday, February 20th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $340.85 million. As a group, research analysts predict that AdvanSix will post 4 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ASIX. 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 acquiring an additional 483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in AdvanSix by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock worth $343,000 after purchasing an additional 604 shares in the last quarter. Sheets Smith Wealth Management grew its holdings 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 purchasing an additional 659 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of 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 buying an additional 746 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC increased its position in shares of AdvanSix by 8.8% in the third quarter. NorthCrest Asset Manangement LLC now owns 12,576 shares of the company’s stock valued at $257,000 after buying an additional 1,022 shares in the last quarter. 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.