Analysts Set $33.50 Target Price for AdvanSix Inc (NYSE:ASIX)
Shares of AdvanSix Inc (NYSE:ASIX) have received a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.
Brokerages have set a 12 month consensus target price of $33.50 for the company and are forecasting that the company will post $0.39 earnings per share for the current quarter, according to Zacks. Zacks has also assigned AdvanSix an industry rank of 210 out of 256 based on the ratings given to related companies.
ASIX has been the topic of several analyst reports. Zacks Investment Research downgraded Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. ValuEngine upgraded XOMA from a “sell” rating to a “hold” rating in a research note on Friday, May 24th.
Several hedge funds have recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. purchased a new stake in AdvanSix during the 1st quarter valued at about $39,000. Quantamental Technologies LLC purchased a new stake in AdvanSix during the 1st quarter valued at about $80,000. Flagship Harbor Advisors LLC grew its stake in AdvanSix by 12.6% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 4,667 shares of the company’s stock valued at $114,000 after acquiring an additional 524 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in AdvanSix by 298.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,334 shares of the company’s stock valued at $181,000 after acquiring an additional 4,743 shares in the last quarter. Finally, Convergence Investment Partners LLC purchased a new stake in AdvanSix during the 2nd quarter valued at about $162,000. 83.02% of the stock is owned by institutional investors and hedge funds.
NYSE:ASIX traded up $0.97 during trading hours on Friday, hitting $26.26. 134,148 shares of the company’s stock traded hands, compared to its average volume of 155,849. The company has a market cap of $717.31 million, a price-to-earnings ratio of 12.56 and a beta of 1.89. AdvanSix has a 52 week low of $22.57 and a 52 week high of $41.45. The company has a fifty day moving average of $25.31. The company has a current ratio of 1.05, a quick ratio of 0.50 and a debt-to-equity ratio of 0.74.
AdvanSix (NYSE:ASIX) last issued its quarterly earnings results on Friday, May 3rd. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.29. AdvanSix had a return on equity of 17.96% and a net margin of 5.09%. The firm had revenue of $314.90 million during the quarter, compared to analyst estimates of $340.87 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue was down 12.3% compared to the same quarter last year. As a group, equities research analysts anticipate that AdvanSix will post 2.25 earnings per share for the current fiscal year.
AdvanSix Inc manufactures and sells polymer resins. 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 to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone, which is used by customers 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, cyclohexanol, acetaldehyde oxime, 2-pentanone oxime, sulfuric acid, ammonia, and carbon dioxide.
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