AdvanSix Inc (ASIX) Lifted to “Strong-Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of AdvanSix Inc (NASDAQ:ASIX) from a hold rating to a strong-buy rating in a report published on Tuesday. Zacks Investment Research currently has $39.00 target price on the stock.
According to Zacks, “AdvanSix Inc. is a producer and supplier of Nylon 6 materials. The company’s polymer resin sold under the Aegis(R) brand to produce engineered plastics, fibers, filaments and films which in turn used in end products such as automotive and electronic components, carpets, sports apparel, fishing nets and food as well as industrial packaging. AdvanSix also produces caprolactam, the main feedstock for producing nylon; Caprannylon film(R); Sulf-N (R) ammonium sulfate fertilizers and chemical intermediates, including phenol, acetone, and Nadone (R) cyclohexanone. AdvanSix Inc. is based in Morris Plains, United States. “
Separately, Cowen and Company upped their price objective on shares of AdvanSix from $37.00 to $40.00 and gave the company an outperform rating in a research note on Wednesday, September 6th.
Shares of AdvanSix (NASDAQ:ASIX) traded up 0.99% on Tuesday, hitting $36.55. 370,092 shares of the company were exchanged. The stock has a market capitalization of $1.11 billion and a PE ratio of 25.10. The firm’s 50-day moving average is $35.19 and its 200-day moving average is $31.95. AdvanSix has a 52-week low of $13.70 and a 52-week high of $36.75.
AdvanSix (NASDAQ:ASIX) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.17. AdvanSix had a net margin of 7.13% and a return on equity of 40.03%. The company had revenue of $361.44 million during the quarter. Equities research analysts predict that AdvanSix will post $2.83 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of AdvanSix in the 2nd quarter valued at approximately $661,000. WINTON GROUP Ltd grew its stake in shares of AdvanSix by 43.7% in the 2nd quarter. WINTON GROUP Ltd now owns 50,267 shares of the company’s stock valued at $1,570,000 after buying an additional 15,281 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of AdvanSix by 1,967.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,324 shares of the company’s stock valued at $729,000 after buying an additional 22,196 shares during the period. Cubist Systematic Strategies LLC grew its stake in shares of AdvanSix by 34.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,657 shares of the company’s stock valued at $333,000 after buying an additional 2,760 shares during the period. Finally, State Street Corp grew its stake in shares of AdvanSix by 41.2% in the 2nd quarter. State Street Corp now owns 717,873 shares of the company’s stock valued at $22,427,000 after buying an additional 209,636 shares during the period.
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.
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