AdvanSix (ASIX) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of AdvanSix (NYSE:ASIX) from a sell rating to a hold rating in a research report released on Thursday.
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, ValuEngine cut AdvanSix from a buy rating to a hold rating in a report on Friday, June 1st.
AdvanSix (NYSE:ASIX) last issued its earnings results on Friday, August 3rd. The company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.04. The business had revenue of $400.46 million for the quarter, compared to analysts’ expectations of $391.10 million. AdvanSix had a return on equity of 22.35% and a net margin of 8.93%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 EPS. equities analysts forecast that AdvanSix will post 2.53 EPS for the current fiscal year.
In related news, Director Michael Marberry bought 1,437 shares of the stock in a transaction dated Tuesday, August 7th. The shares were acquired at an average cost of $34.79 per share, for a total transaction of $49,993.23. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have bought 2,740 shares of company stock worth $100,134. Insiders own 0.22% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of AdvanSix during the 2nd quarter valued at approximately $134,000. Meeder Asset Management Inc. raised its position in shares of AdvanSix by 148.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 4,142 shares of the company’s stock valued at $152,000 after buying an additional 2,478 shares during the period. Point72 Asia Hong Kong Ltd raised its position in shares of AdvanSix by 483.3% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,200 shares of the company’s stock valued at $146,000 after buying an additional 3,480 shares during the period. Envestnet Asset Management Inc. raised its position in shares of AdvanSix by 607.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,230 shares of the company’s stock valued at $147,000 after buying an additional 3,632 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of AdvanSix by 97,980.0% during the 1st quarter. Victory Capital Management Inc. now owns 4,904 shares of the company’s stock valued at $171,000 after buying an additional 4,899 shares during the period. Institutional investors and hedge funds own 77.38% of the company’s stock.
AdvanSix Inc manufactures and sells polymer resins in the United States. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce engineered plastics, fibers, filaments, and films. The company also provides caprolactam, ammonium sulfate fertilizers, and acetone, as well as other intermediate chemicals, including phenol, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, cyclohexanol, acetaldehyde oxime, 2-pentanone oxime, sulfuric acid, ammonia, and carbon dioxide.
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