AdvanSix (NYSE:ASIX) Stock Rating Lowered by Zacks Investment Research

AdvanSix (NYSE:ASIX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

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. “

A number of other analysts also recently commented on ASIX. ValuEngine upgraded AdvanSix from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Cowen lowered their target price on AdvanSix from $24.00 to $20.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 19th.

Shares of ASIX opened at $19.41 on Thursday. AdvanSix has a 52 week low of $15.70 and a 52 week high of $34.92. The company has a quick ratio of 0.45, a current ratio of 1.01 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $541.73 million, a price-to-earnings ratio of 8.94 and a beta of 1.83. The stock’s 50-day moving average price is $18.22 and its 200-day moving average price is $21.67.

In other AdvanSix news, Director Sharon Spurlin purchased 2,694 shares of AdvanSix stock in a transaction that occurred on Tuesday, December 10th. The stock was bought at an average price of $19.74 per share, with a total value of $53,179.56. Following the acquisition, the director now owns 22,510 shares of the company’s stock, valued at approximately $444,347.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel F. Sansone purchased 5,000 shares of AdvanSix stock in a transaction that occurred on Tuesday, November 26th. The stock was acquired at an average cost of $20.28 per share, with a total value of $101,400.00. Following the acquisition, the director now directly owns 29,116 shares in the company, valued at approximately $590,472.48. The disclosure for this purchase can be found here. Insiders bought 11,270 shares of company stock worth $225,170 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System raised its holdings in AdvanSix by 16.9% in the 3rd quarter. California Public Employees Retirement System now owns 50,574 shares of the company’s stock worth $1,301,000 after purchasing an additional 7,295 shares during the period. Squarepoint Ops LLC raised its holdings in AdvanSix by 56.0% in the 3rd quarter. Squarepoint Ops LLC now owns 66,002 shares of the company’s stock worth $1,698,000 after purchasing an additional 23,693 shares during the period. Prime Capital Investment Advisors LLC acquired a new position in AdvanSix in the 3rd quarter worth about $35,000. Morgan Stanley raised its holdings in AdvanSix by 217.4% in the 2nd quarter. Morgan Stanley now owns 163,028 shares of the company’s stock worth $3,983,000 after purchasing an additional 111,670 shares during the period. Finally, First Trust Advisors LP raised its holdings in AdvanSix by 40.2% in the 3rd quarter. First Trust Advisors LP now owns 94,718 shares of the company’s stock worth $2,436,000 after purchasing an additional 27,157 shares during the period. 81.80% of the stock is owned by institutional investors.

AdvanSix Company Profile

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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