Zacks: AdvanSix Inc (ASIX) Receives Consensus Rating of “Strong Buy” from Analysts
AdvanSix Inc (NYSE:ASIX) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Analysts have set a 12 month consensus target price of $47.00 for the company and are forecasting that the company will post $0.50 earnings per share for the current quarter, according to Zacks. Zacks has also assigned AdvanSix an industry rank of 99 out of 265 based on the ratings given to related companies.
A number of equities research analysts have recently weighed in on ASIX shares. BidaskClub upgraded shares of AdvanSix from a “hold” rating to a “buy” rating in a report on Friday, September 15th. ValuEngine lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research lowered shares of AdvanSix from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 28th. Finally, Cowen raised their price objective on shares of AdvanSix from $40.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 6th.
A number of large investors have recently made changes to their positions in ASIX. BlackRock Inc. raised its stake in AdvanSix by 27.9% during the 2nd quarter. BlackRock Inc. now owns 4,055,127 shares of the company’s stock worth $126,680,000 after acquiring an additional 884,435 shares in the last quarter. Teachers Advisors LLC raised its stake in AdvanSix by 922.2% during the 2nd quarter. Teachers Advisors LLC now owns 308,758 shares of the company’s stock worth $9,646,000 after acquiring an additional 278,553 shares in the last quarter. Vanguard Group Inc. raised its stake in AdvanSix by 16.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,806,649 shares of the company’s stock worth $56,440,000 after acquiring an additional 250,688 shares in the last quarter. Northern Trust Corp raised its stake in AdvanSix by 126.4% during the 2nd quarter. Northern Trust Corp now owns 382,623 shares of the company’s stock worth $11,953,000 after acquiring an additional 213,652 shares in the last quarter. Finally, State Street Corp raised its stake in AdvanSix by 41.2% during the 2nd quarter. State Street Corp now owns 717,873 shares of the company’s stock worth $22,427,000 after acquiring an additional 209,636 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.
AdvanSix (NYSE ASIX) traded down $0.19 during trading on Friday, reaching $43.08. 160,134 shares of the company’s stock were exchanged, compared to its average volume of 204,387. The firm has a market cap of $1,319.00, a price-to-earnings ratio of 27.27 and a beta of 2.97. AdvanSix has a 12 month low of $20.88 and a 12 month high of $46.51. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.93 and a current ratio of 1.39.
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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