AdvanSix (ASIX) Downgraded by Cowen to “Market Perform”

Cowen lowered shares of AdvanSix (NYSE:ASIX) from an outperform rating to a market perform rating in a research note released on Wednesday morning, Marketbeat Ratings reports. They currently have $33.00 target price on the stock.

Several other analysts have also issued reports on the stock. TheStreet lowered shares of AdvanSix from a b- rating to a c+ rating in a research report on Monday, November 5th. Zacks Investment Research upgraded shares of AdvanSix from a sell rating to a hold rating in a research report on Tuesday, October 9th. ValuEngine upgraded shares of AdvanSix from a sell rating to a hold rating in a research report on Thursday, December 13th. Finally, Stifel Nicolaus initiated coverage on shares of AdvanSix in a research report on Monday, December 10th. They set a buy rating and a $38.00 target price for the company. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $35.00.

Shares of ASIX stock traded down $0.25 during trading hours on Wednesday, reaching $30.98. The company had a trading volume of 2,243 shares, compared to its average volume of 146,710. AdvanSix has a one year low of $22.57 and a one year high of $44.43. The firm has a market capitalization of $929.16 million, a PE ratio of 10.25 and a beta of 2.05. The company has a quick ratio of 0.70, a current ratio of 1.17 and a debt-to-equity ratio of 0.47.

In other AdvanSix news, Director Michael Marberry bought 1,905 shares of the business’s stock in a transaction that occurred on Friday, December 7th. The stock was bought at an average cost of $26.20 per share, for a total transaction of $49,911.00. Following the completion of the transaction, the director now owns 34,856 shares of the company’s stock, valued at approximately $913,227.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.22% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ASIX. Public Employees Retirement System of Ohio grew its position in AdvanSix by 325.9% during the second quarter. Public Employees Retirement System of Ohio now owns 12,939 shares of the company’s stock valued at $474,000 after buying an additional 9,901 shares during the period. Bank of New York Mellon Corp grew its position in AdvanSix by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 403,474 shares of the company’s stock valued at $14,779,000 after buying an additional 3,452 shares during the period. First Trust Advisors LP grew its position in AdvanSix by 36.8% during the third quarter. First Trust Advisors LP now owns 75,950 shares of the company’s stock valued at $2,579,000 after buying an additional 20,420 shares during the period. Alps Advisors Inc. lifted its holdings in AdvanSix by 28.5% during the third quarter. Alps Advisors Inc. now owns 13,990 shares of the company’s stock valued at $475,000 after purchasing an additional 3,106 shares in the last quarter. Finally, James Investment Research Inc. lifted its holdings in AdvanSix by 5.9% during the third quarter. James Investment Research Inc. now owns 60,425 shares of the company’s stock valued at $2,051,000 after purchasing an additional 3,360 shares in the last quarter. Institutional investors own 79.19% of the company’s stock.

About AdvanSix

AdvanSix Inc manufactures and sells polymer resins in the United States. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce engineered plastics, fibers, filaments, and films. The company also provides caprolactam, ammonium sulfate fertilizers, and acetone, as well as other intermediate chemicals, including phenol, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, cyclohexanol, acetaldehyde oxime, 2-pentanone oxime, sulfuric acid, ammonia, and carbon dioxide.

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