AdvanSix (NYSE:ASIX) Price Target Raised to $20.00

AdvanSix (NYSE:ASIX) had its price target raised by Truist Financial from $19.00 to $20.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price points to a potential upside of 6.36% from the stock’s previous close.

ASIX has been the subject of several other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of AdvanSix in a research report on Monday, December 29th. Wall Street Zen upgraded AdvanSix from a “sell” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, AdvanSix presently has a consensus rating of “Hold” and a consensus price target of $29.00.

AdvanSix Stock Performance

ASIX stock opened at $18.80 on Monday. AdvanSix has a 1 year low of $14.10 and a 1 year high of $31.03. The stock has a market capitalization of $505.08 million, a price-to-earnings ratio of 10.39 and a beta of 1.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.52 and a current ratio of 1.13. The stock’s fifty day moving average is $17.43 and its two-hundred day moving average is $18.27.

AdvanSix (NYSE:ASIX) last released its quarterly earnings results on Friday, February 20th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. The business had revenue of $359.95 million during the quarter, compared to analyst estimates of $340.85 million. AdvanSix had a net margin of 3.24% and a return on equity of 6.97%. On average, research analysts predict that AdvanSix will post 4 EPS for the current year.

Institutional Investors Weigh In On AdvanSix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of AdvanSix by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,990,011 shares of the company’s stock worth $38,566,000 after acquiring an additional 10,642 shares in the last quarter. Aegis Financial Corp purchased a new stake in shares of AdvanSix during the fourth quarter valued at $20,927,000. American Century Companies Inc. boosted its position in shares of AdvanSix by 9.3% in the 3rd quarter. American Century Companies Inc. now owns 967,571 shares of the company’s stock valued at $18,752,000 after purchasing an additional 81,927 shares during the period. Alliancebernstein L.P. boosted its position in shares of AdvanSix by 55.3% in the 3rd quarter. Alliancebernstein L.P. now owns 948,491 shares of the company’s stock valued at $18,382,000 after purchasing an additional 337,908 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in AdvanSix by 23.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 711,634 shares of the company’s stock worth $12,311,000 after purchasing an additional 135,650 shares in the last quarter. Institutional investors own 86.39% of the company’s stock.

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.