Wall Street Zen Downgrades AdvanSix (NYSE:ASIX) to Sell

AdvanSix (NYSE:ASIX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Friday.

ASIX has been the subject of a number of other research reports. Truist Financial started coverage on shares of AdvanSix in a research report on Thursday, January 15th. They issued a “hold” rating and a $19.00 price objective for the company. Weiss Ratings restated a “sell (d+)” rating on shares of AdvanSix in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, AdvanSix presently has a consensus rating of “Hold” and an average price target of $28.67.

AdvanSix Trading Down 0.3%

AdvanSix stock opened at $17.06 on Friday. The firm has a market cap of $458.12 million, a PE ratio of 8.88 and a beta of 1.71. AdvanSix has a 12 month low of $14.10 and a 12 month high of $32.58. The stock’s 50 day simple moving average is $16.46 and its two-hundred day simple moving average is $18.82. The company has a current ratio of 1.36, a quick ratio of 0.74 and a debt-to-equity ratio of 0.31.

AdvanSix (NYSE:ASIX) last posted its earnings results on Friday, November 7th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.32). AdvanSix had a net margin of 3.52% and a return on equity of 7.14%. The firm had revenue of $374.47 million for the quarter, compared to analysts’ expectations of $365.00 million. Analysts anticipate that AdvanSix will post 4 earnings per share for the current year.

Institutional Investors Weigh In On AdvanSix

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in shares of AdvanSix by 23.2% during the first quarter. Royal Bank of Canada now owns 18,990 shares of the company’s stock valued at $430,000 after acquiring an additional 3,575 shares during the last quarter. AQR Capital Management LLC increased its position in shares of AdvanSix by 35.7% during the first quarter. AQR Capital Management LLC now owns 74,743 shares of the company’s stock worth $1,693,000 after purchasing an additional 19,668 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in AdvanSix by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock valued at $343,000 after purchasing an additional 604 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in AdvanSix by 1,195.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,123 shares of the company’s stock valued at $74,000 after purchasing an additional 2,882 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in AdvanSix by 7.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 15,953 shares of the company’s stock valued at $377,000 after purchasing an additional 1,141 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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.