AdvanSix (NYSE:ASIX) Given a $52.00 Price Target by Piper Sandler Analysts

AdvanSix (NYSE:ASIXGet Rating) has been given a $52.00 target price by stock analysts at Piper Sandler in a note issued to investors on Wednesday, Stock Target Advisor reports. Piper Sandler’s price objective would suggest a potential upside of 26.98% from the company’s previous close.

Separately, StockNews.com upgraded shares of AdvanSix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 16th.

AdvanSix Price Performance

ASIX opened at $40.95 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.68 and a current ratio of 1.14. The stock has a market capitalization of $1.13 billion, a P/E ratio of 7.41 and a beta of 1.78. The company’s 50-day simple moving average is $35.37 and its two-hundred day simple moving average is $37.54. AdvanSix has a 52-week low of $30.69 and a 52-week high of $57.10.

AdvanSix (NYSE:ASIXGet Rating) last posted its earnings results on Friday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.15. The business had revenue of $478.77 million for the quarter, compared to analysts’ expectations of $463.47 million. AdvanSix had a net margin of 8.23% and a return on equity of 24.18%. As a group, analysts predict that AdvanSix will post 6.39 EPS for the current year.

Insider Transactions at AdvanSix

In other news, insider Christopher Gramm sold 1,000 shares of the stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $32.55, for a total value of $32,550.00. Following the transaction, the insider now owns 34,954 shares in the company, valued at approximately $1,137,752.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 3,000 shares of company stock worth $106,770 in the last quarter. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On AdvanSix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASIX. Wasatch Advisors Inc. bought a new stake in AdvanSix during the 1st quarter worth approximately $31,153,000. Victory Capital Management Inc. grew its holdings in AdvanSix by 2,306.9% during the 1st quarter. Victory Capital Management Inc. now owns 596,277 shares of the company’s stock valued at $30,295,000 after buying an additional 571,503 shares in the last quarter. Alliancebernstein L.P. grew its holdings in AdvanSix by 32.6% during the 3rd quarter. Alliancebernstein L.P. now owns 967,840 shares of the company’s stock valued at $31,068,000 after buying an additional 237,798 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in AdvanSix by 51.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 561,680 shares of the company’s stock valued at $18,784,000 after buying an additional 190,886 shares in the last quarter. Finally, FMR LLC grew its holdings in AdvanSix by 42.3% during the 2nd quarter. FMR LLC now owns 434,467 shares of the company’s stock valued at $14,529,000 after buying an additional 129,131 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

About AdvanSix

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AdvanSix Inc manufactures and sells 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, alpha-methyl styrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.

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