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

AdvanSix (NYSE:ASIX - Get Free Report) had its price target decreased by stock analysts at Piper Sandler from $39.00 to $35.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price objective indicates a potential upside of 52.24% from the company's previous close.

Separately, StockNews.com raised AdvanSix from a "hold" rating to a "buy" rating in a report on Wednesday, December 4th.

AdvanSix Stock Performance

Shares of NYSE ASIX traded down $0.32 during trading hours on Tuesday, reaching $22.99. The stock had a trading volume of 377,048 shares, compared to its average volume of 130,685. The company has a market cap of $614.84 million, a price-to-earnings ratio of 14.28 and a beta of 1.73. AdvanSix has a twelve month low of $20.86 and a twelve month high of $33.00. The business's fifty day moving average is $28.60 and its two-hundred day moving average is $29.26. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.49.

AdvanSix (NYSE:ASIX - Get Free Report) last announced its quarterly earnings data on Friday, February 21st. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.37) by $0.40. AdvanSix had a net margin of 2.91% and a return on equity of 6.26%. The company had revenue of $329.06 million during the quarter, compared to analysts' expectations of $377.15 million. As a group, research analysts expect that AdvanSix will post 4 EPS for the current year.

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Insider Transactions at AdvanSix

In related news, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $28.15, for a total value of $140,750.00. Following the completion of the transaction, the chief executive officer now directly owns 507,795 shares of the company's stock, valued at $14,294,429.25. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On AdvanSix

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of AdvanSix by 86.2% during the third quarter. FMR LLC now owns 565,982 shares of the company's stock valued at $17,195,000 after purchasing an additional 261,964 shares during the last quarter. Wellington Management Group LLP lifted its holdings in AdvanSix by 43.5% during the 4th quarter. Wellington Management Group LLP now owns 673,885 shares of the company's stock worth $19,199,000 after buying an additional 204,200 shares in the last quarter. Prudential Financial Inc. boosted its position in AdvanSix by 90.2% in the 4th quarter. Prudential Financial Inc. now owns 402,250 shares of the company's stock valued at $11,460,000 after buying an additional 190,727 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in AdvanSix by 441.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 219,310 shares of the company's stock valued at $6,248,000 after buying an additional 178,843 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of AdvanSix by 15.8% in the 4th quarter. American Century Companies Inc. now owns 740,028 shares of the company's stock valued at $21,083,000 after buying an additional 100,841 shares during the period. Institutional investors own 86.39% of the company's stock.

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.