Zacks Investment Research upgraded shares of Advanced Drainage Systems (NYSE:WMS) from a sell rating to a hold rating in a research note released on Friday morning, Zacks.com reports.

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. “

Separately, Citigroup decreased their target price on shares of Advanced Drainage Systems from $30.00 to $27.00 and set a neutral rating on the stock in a research report on Friday, January 4th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $30.50.

WMS stock opened at $27.78 on Friday. Advanced Drainage Systems has a 12 month low of $23.04 and a 12 month high of $33.50. The company has a market capitalization of $1.58 billion, a PE ratio of 34.30 and a beta of 0.99. The company has a current ratio of 2.24, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, February 7th. The construction company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.06). Advanced Drainage Systems had a return on equity of 37.87% and a net margin of 4.98%. The firm had revenue of $318.11 million for the quarter, compared to analyst estimates of $339.61 million. During the same quarter last year, the business posted $0.28 EPS. The firm’s revenue was down .8% compared to the same quarter last year. Equities analysts anticipate that Advanced Drainage Systems will post 1.18 EPS for the current fiscal year.

In related news, EVP Ronald R. Vitarelli sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $25.47, for a total transaction of $63,675.00. Following the sale, the executive vice president now owns 30,285 shares in the company, valued at $771,358.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 20.97% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. LGT Capital Partners LTD. purchased a new position in Advanced Drainage Systems during the first quarter worth approximately $2,487,000. American Century Companies Inc. purchased a new position in Advanced Drainage Systems during the fourth quarter worth approximately $423,000. Geode Capital Management LLC raised its stake in Advanced Drainage Systems by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 473,551 shares of the construction company’s stock worth $11,483,000 after purchasing an additional 40,693 shares during the period. Norges Bank purchased a new position in Advanced Drainage Systems during the fourth quarter worth approximately $24,393,000. Finally, Dimensional Fund Advisors LP raised its stake in Advanced Drainage Systems by 9.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,192,701 shares of the construction company’s stock worth $28,923,000 after purchasing an additional 103,572 shares during the period. 80.81% of the stock is currently owned by institutional investors.

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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