Truist Financial Cuts AdvanSix (NYSE:ASIX) Price Target to $18.00
by Doug Wharley · The Cerbat GemAdvanSix (NYSE:ASIX – Free Report) had its price objective trimmed by Truist Financial from $20.00 to $18.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a hold rating on the stock.
ASIX has been the subject of a number of other research reports. Weiss Ratings downgraded shares of AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Zacks Research raised AdvanSix to a “hold” rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen lowered AdvanSix from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $21.50.
Check Out Our Latest Research Report on AdvanSix
AdvanSix Trading Down 5.6%
Shares of ASIX opened at $15.80 on Monday. The company has a 50-day moving average of $20.27 and a 200 day moving average of $20.81. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.28 and a quick ratio of 0.70. AdvanSix has a 1-year low of $14.10 and a 1-year high of $26.73. The firm has a market capitalization of $426.60 million, a price-to-earnings ratio of -23.94 and a beta of 1.29.
AdvanSix (NYSE:ASIX – Get Free Report) last issued its earnings results on Friday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.37). AdvanSix had a negative return on equity of 1.28% and a negative net margin of 1.14%.The business had revenue of $421.28 million for the quarter, compared to the consensus estimate of $452.00 million. On average, research analysts expect that AdvanSix will post -0.16 EPS for the current year.
AdvanSix Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, August 18th. AdvanSix’s dividend payout ratio is -96.97%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in AdvanSix during the second quarter worth about $29,000. Osaic Holdings Inc. boosted its position in AdvanSix by 60.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock worth $31,000 after purchasing an additional 483 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of AdvanSix during the 2nd quarter worth approximately $40,000. Hantz Financial Services Inc. increased its holdings in shares of AdvanSix by 90.0% during the 4th quarter. Hantz Financial Services Inc. now owns 2,358 shares of the company’s stock valued at $41,000 after purchasing an additional 1,117 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of AdvanSix by 27,537.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company’s stock valued at $43,000 after purchasing an additional 2,203 shares during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.
About AdvanSix
AdvanSix, Inc (NYSE: ASIX) is an integrated chemical manufacturer specializing in the production of nylon 6 intermediates and related co‐products. Established as a publicly traded spin‐off from Honeywell Specialty Chemicals in June 2016, the company is headquartered in Parsippany, New Jersey.
The company’s principal product is caprolactam, the key building block for nylon 6 resin, used in fibers and engineering plastics across industries. In addition to caprolactam and nylon 6 resin, AdvanSix produces ammonium sulfate fertilizer and industrial chemicals such as phenol and acetone.