AdvanSix (NYSE:ASIX) Rating Increased to Buy at StockNews.com

AdvanSix (NYSE:ASIX - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Wednesday.

Separately, Piper Sandler raised their price objective on shares of AdvanSix from $35.00 to $39.00 and gave the company an "overweight" rating in a research report on Friday, November 8th.

AdvanSix Price Performance

ASIX traded down $0.42 on Wednesday, reaching $32.16. The company had a trading volume of 113,078 shares, compared to its average volume of 141,195. The company has a fifty day moving average of $30.47 and a 200-day moving average of $27.46. The company has a market capitalization of $859.67 million, a P/E ratio of 22.81 and a beta of 1.73. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.28. AdvanSix has a one year low of $20.86 and a one year high of $33.00.

Insider Activity

In other AdvanSix news, insider Christopher Gramm sold 2,435 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total transaction of $77,920.00. Following the completion of the sale, the insider now directly owns 43,463 shares of the company's stock, valued at approximately $1,390,816. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Erin N. Kane sold 5,000 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $30.37, for a total transaction of $151,850.00. Following the sale, the chief executive officer now directly owns 517,795 shares of the company's stock, valued at $15,725,434.15. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,369 shares of company stock worth $474,058. Corporate insiders own 5.60% of the company's stock.

Institutional Trading of AdvanSix

A number of hedge funds have recently bought and sold shares of ASIX. Point72 DIFC Ltd purchased a new stake in shares of AdvanSix in the second quarter worth approximately $34,000. Acadian Asset Management LLC purchased a new stake in shares of AdvanSix in the second quarter worth approximately $36,000. Copeland Capital Management LLC purchased a new stake in shares of AdvanSix in the third quarter worth approximately $41,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of AdvanSix in the second quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of AdvanSix in the second quarter worth approximately $51,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

About AdvanSix

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.