AdvanSix (ASIX) Downgraded by Zacks Investment Research

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Zacks Investment Research downgraded shares of AdvanSix (NYSE:ASIX) from a strong-buy rating to a hold rating in a research report report published on Monday.

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. “

Several other equities research analysts have also recently weighed in on the company. Cowen cut AdvanSix from an outperform rating to a market perform rating and set a $33.00 target price for the company. in a research note on Wednesday, February 6th. ValuEngine upgraded AdvanSix from a sell rating to a hold rating in a research note on Thursday, December 13th. Stifel Nicolaus began coverage on AdvanSix in a research note on Monday, December 10th. They set a buy rating and a $38.00 target price for the company. Finally, TheStreet cut AdvanSix from a b- rating to a c+ rating in a research note on Monday, November 5th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of Hold and an average price target of $35.00.

ASIX stock opened at $32.29 on Monday. The company has a market cap of $958.46 million, a P/E ratio of 10.76 and a beta of 2.05. AdvanSix has a fifty-two week low of $22.57 and a fifty-two week high of $44.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.17 and a quick ratio of 0.70.

In related news, Director Michael Marberry purchased 1,905 shares of the business’s stock in a transaction dated Friday, December 7th. The stock was acquired at an average price of $26.20 per share, for a total transaction of $49,911.00. Following the completion of the purchase, the director now directly owns 34,856 shares of the company’s stock, valued at $913,227.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.22% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC acquired a new position in AdvanSix during the third quarter worth $219,000. LSV Asset Management grew its holdings in AdvanSix by 22.6% during the third quarter. LSV Asset Management now owns 87,904 shares of the company’s stock worth $2,984,000 after acquiring an additional 16,200 shares during the period. Janney Montgomery Scott LLC acquired a new position in AdvanSix during the third quarter worth $308,000. Thompson Siegel & Walmsley LLC acquired a new position in AdvanSix during the third quarter worth $8,712,000. Finally, JPMorgan Chase & Co. grew its holdings in AdvanSix by 10.1% during the third quarter. JPMorgan Chase & Co. now owns 1,592,172 shares of the company’s stock worth $54,054,000 after acquiring an additional 146,123 shares during the period. Institutional investors and hedge funds own 78.37% of the company’s stock.

About AdvanSix

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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