AdvanSix (NYSE:ASIX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The firm presently has a $33.00 price objective on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.25% from the company’s current price.
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, TheStreet raised AdvanSix from a “c-” rating to a “b-” rating in a research report on Friday, February 19th.
AdvanSix (NYSE:ASIX) last posted its quarterly earnings data on Thursday, February 18th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.45. The business had revenue of $340.27 million for the quarter, compared to analyst estimates of $291.00 million. AdvanSix had a return on equity of 4.17% and a net margin of 1.50%. Analysts anticipate that AdvanSix will post 1.22 earnings per share for the current year.
In other news, SVP Willem L. Blindenbach sold 3,675 shares of the stock in a transaction that occurred on Friday, April 9th. The shares were sold at an average price of $27.84, for a total transaction of $102,312.00. Following the sale, the senior vice president now directly owns 26,685 shares of the company’s stock, valued at $742,910.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.30% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ASIX. UBS Asset Management Americas Inc. raised its stake in shares of AdvanSix by 62.8% during the fourth quarter. UBS Asset Management Americas Inc. now owns 28,561 shares of the company’s stock worth $571,000 after buying an additional 11,020 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in AdvanSix by 38.9% during the fourth quarter. JPMorgan Chase & Co. now owns 196,112 shares of the company’s stock worth $3,919,000 after buying an additional 54,889 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in AdvanSix during the fourth quarter worth about $582,000. New York Life Investments Alternatives bought a new position in AdvanSix during the fourth quarter worth about $934,000. Finally, ETF Managers Group LLC bought a new position in AdvanSix during the fourth quarter worth about $120,000. 82.34% of the stock is currently owned by institutional investors.
AdvanSix Inc manufactures and sells polymer resins in the United States and internationally. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce fibers, filaments, engineered plastics and films. The company also provides caprolactam to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone that are used in the production of adhesives, paints, coatings, solvents, herbicides, and other engineered plastic resins, as well as other intermediate chemicals, including phenol, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.
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