AdvanSix (NYSE:ASIX) Coverage Initiated at CL King

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CL King started coverage on shares of AdvanSix (NYSE:ASIX) in a research note released on Thursday morning, BenzingaRatingsTable reports. The firm issued a neutral rating on the stock.

A number of other analysts have also issued reports on the stock. ValuEngine upgraded shares of AdvanSix from a sell rating to a hold rating in a research note on Thursday, August 1st. Zacks Investment Research lowered shares of AdvanSix from a hold rating to a strong sell rating in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $34.00.

Shares of NYSE:ASIX opened at $22.53 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.61 and a debt-to-equity ratio of 0.82. The company has a fifty day simple moving average of $24.52 and a 200 day simple moving average of $28.22. The firm has a market cap of $603.32 million, a PE ratio of 10.48 and a beta of 1.90. AdvanSix has a 12-month low of $21.29 and a 12-month high of $35.90.

AdvanSix (NYSE:ASIX) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. The business had revenue of $345.22 million during the quarter, compared to analyst estimates of $344.33 million. AdvanSix had a net margin of 4.36% and a return on equity of 14.80%. The business’s revenue was down 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. As a group, equities research analysts forecast that AdvanSix will post 2.18 EPS for the current fiscal year.

In related news, Director Michael Marberry purchased 4,350 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $21.34 per share, for a total transaction of $92,829.00. Following the completion of the purchase, the director now owns 48,474 shares in the company, valued at $1,034,435.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of ASIX. Gateway Investment Advisers LLC boosted its holdings in AdvanSix by 54.6% in the second quarter. Gateway Investment Advisers LLC now owns 64,796 shares of the company’s stock worth $1,583,000 after purchasing an additional 22,887 shares during the period. Patten & Patten Inc. TN acquired a new position in AdvanSix in the first quarter worth $217,000. Cubic Asset Management LLC acquired a new position in AdvanSix in the first quarter worth $703,000. Gamco Investors INC. ET AL acquired a new position in AdvanSix in the first quarter worth $221,000. Finally, Assenagon Asset Management S.A. boosted its holdings in AdvanSix by 79.3% in the first quarter. Assenagon Asset Management S.A. now owns 86,189 shares of the company’s stock worth $2,462,000 after purchasing an additional 38,130 shares during the period. Institutional investors and hedge funds own 86.92% of the company’s stock.

About AdvanSix

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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