AdvanSix Inc (ASIX) Rating Increased to Buy at BidaskClub
AdvanSix Inc (NASDAQ:ASIX) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Friday.
ASIX has been the subject of several other reports. Cowen and Company initiated coverage on shares of AdvanSix in a research note on Friday, June 23rd. They issued an “outperform” rating and a $37.00 target price for the company. Zacks Investment Research upgraded shares of AdvanSix from a “hold” rating to a “strong-buy” rating and set a $39.00 target price for the company in a research note on Tuesday, September 12th.
Shares of AdvanSix (ASIX) opened at 36.55 on Friday. The stock’s 50 day moving average is $35.19 and its 200 day moving average is $31.95. AdvanSix has a 12 month low of $13.70 and a 12 month high of $36.75. The company has a market capitalization of $1.11 billion and a P/E ratio of 25.10.
AdvanSix (NASDAQ:ASIX) last posted its earnings results 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 firm had revenue of $361.44 million during the quarter. On average, equities analysts predict that AdvanSix will post $2.83 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new position in shares of AdvanSix in the 2nd quarter valued at $661,000. WINTON GROUP Ltd lifted 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 purchasing an additional 15,281 shares during the period. The Manufacturers Life Insurance Company lifted 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 purchasing an additional 22,196 shares during the period. Cubist Systematic Strategies LLC lifted 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 purchasing an additional 2,760 shares during the period. Finally, State Street Corp lifted 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 purchasing an additional 209,636 shares during the period.
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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