Advanced Drainage Systems (NYSE:WMS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

According to Zacks, “Advanced Drainage Systems, Inc. is a manufacturer of thermoplastic corrugated pipe, providing a comprehensive suite of water management products and drainage solutions for use in the construction and infrastructure marketplace. The company provides single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products comprising PVC drainage structures, fittings and filters, and water quality filters and separators. Its products are used across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications. Advanced Drainage Systems, Inc. is headquartered in Hilliard, Ohio. “

Several other brokerages also recently issued reports on WMS. Boenning Scattergood restated a “hold” rating on shares of Advanced Drainage Systems in a research report on Thursday. Robert W. Baird restated a “buy” rating and set a $35.00 price objective on shares of Advanced Drainage Systems in a research report on Friday. ValuEngine upgraded shares of Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Barclays raised their price objective on shares of Advanced Drainage Systems from $25.00 to $29.00 and gave the stock a “hold” rating in a research report on Wednesday, May 30th. Finally, Citigroup raised their price objective on shares of Advanced Drainage Systems from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $32.00.

NYSE:WMS traded up $0.15 during mid-day trading on Friday, hitting $30.50. The stock had a trading volume of 331,249 shares, compared to its average volume of 166,305. Advanced Drainage Systems has a twelve month low of $17.90 and a twelve month high of $31.00. The company has a market capitalization of $1.61 billion, a P/E ratio of 37.65 and a beta of 0.89. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.88 and a current ratio of 2.07.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, August 9th. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.11. Advanced Drainage Systems had a net margin of 4.62% and a return on equity of 47.40%. The business had revenue of $387.85 million during the quarter, compared to the consensus estimate of $382.67 million. During the same period last year, the business posted $0.28 EPS. Advanced Drainage Systems’s revenue was up 8.2% on a year-over-year basis. equities analysts forecast that Advanced Drainage Systems will post 0.91 earnings per share for the current year.

In other Advanced Drainage Systems news, SVP Ewout Leeuwenburg sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $28.80, for a total transaction of $576,000.00. Following the completion of the sale, the senior vice president now directly owns 53,062 shares in the company, valued at $1,528,185.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald R. Vitarelli sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $29.02, for a total transaction of $319,220.00. Following the sale, the executive vice president now owns 34,049 shares of the company’s stock, valued at $988,101.98. The disclosure for this sale can be found here. Insiders have sold 1,031,000 shares of company stock valued at $29,686,220 over the last 90 days. Company insiders own 20.97% of the company’s stock.

Hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of Advanced Drainage Systems by 30.4% in the second quarter. BlackRock Inc. now owns 3,099,765 shares of the construction company’s stock valued at $88,498,000 after buying an additional 723,150 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Advanced Drainage Systems by 3.8% in the first quarter. JPMorgan Chase & Co. now owns 1,350,900 shares of the construction company’s stock valued at $34,989,000 after buying an additional 49,634 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Advanced Drainage Systems by 22.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,009,560 shares of the construction company’s stock valued at $28,823,000 after buying an additional 184,617 shares in the last quarter. Northern Trust Corp raised its position in shares of Advanced Drainage Systems by 1.9% in the first quarter. Northern Trust Corp now owns 467,493 shares of the construction company’s stock valued at $12,108,000 after buying an additional 8,876 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Advanced Drainage Systems by 44.4% in the second quarter. First Trust Advisors LP now owns 362,455 shares of the construction company’s stock valued at $10,348,000 after buying an additional 111,452 shares in the last quarter. Hedge funds and other institutional investors own 77.13% of the company’s stock.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.

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