Piper Sandler Cuts AdvanSix (NYSE:ASIX) Price Target to $35.00

AdvanSix (NYSE:ASIX) had its target price cut by analysts at Piper Sandler from $39.00 to $35.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 51.06% from the company’s previous close.

Separately, StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th.

AdvanSix Stock Performance

NYSE ASIX traded down $0.93 during trading hours on Tuesday, hitting $23.17. The company had a trading volume of 20,978 shares, compared to its average volume of 128,713. The business has a fifty day simple moving average of $28.90 and a 200-day simple moving average of $29.43. AdvanSix has a fifty-two week low of $20.86 and a fifty-two week high of $33.00. The firm has a market cap of $619.66 million, a P/E ratio of 14.39 and a beta of 1.73. The company has a quick ratio of 0.49, a current ratio of 1.08 and a debt-to-equity ratio of 0.25.

AdvanSix (NYSE:ASIX) last posted its quarterly earnings results on Friday, February 21st. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.40. AdvanSix had a return on equity of 6.26% and a net margin of 2.91%. The company had revenue of $329.06 million during the quarter, compared to the consensus estimate of $377.15 million. Equities analysts predict that AdvanSix will post 4 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $30.19, for a total value of $150,950.00. Following the transaction, the chief executive officer now owns 502,795 shares of the company’s stock, valued at $15,179,381.05. This represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of AdvanSix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Inspire Investing LLC grew its position in AdvanSix by 2.5% in the 4th quarter. Inspire Investing LLC now owns 15,628 shares of the company’s stock worth $445,000 after purchasing an additional 387 shares during the period. Ameriprise Financial Inc. grew its holdings in AdvanSix by 0.3% during the 4th quarter. Ameriprise Financial Inc. now owns 135,127 shares of the company’s stock valued at $3,850,000 after purchasing an additional 450 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in AdvanSix by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,543 shares of the company’s stock valued at $414,000 after purchasing an additional 508 shares during the last quarter. Sheets Smith Wealth Management grew its stake in AdvanSix by 3.7% in the 4th quarter. Sheets Smith Wealth Management now owns 15,772 shares of the company’s stock worth $449,000 after acquiring an additional 569 shares in the last quarter. Finally, Nilsine Partners LLC lifted its position in shares of AdvanSix by 3.1% in the 4th quarter. Nilsine Partners LLC now owns 21,288 shares of the company’s stock worth $606,000 after purchasing an additional 650 shares during the period. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

AdvanSix Company Profile

AdvanSix Inc engages in the manufacture and sale of 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 engineered plastic resins, as well as other intermediate chemicals, including phenol, monoisopropylamine, dipropylamine, monoallylamine, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.