Zacks Investment Research upgraded shares of Advanced Drainage Systems (NYSE:WMS) from a sell rating to a hold rating in a research report released on Saturday, Zacks.com reports. The brokerage currently has $36.00 target price on the construction company’s stock.

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. “

Shares of WMS stock opened at $31.93 on Friday. The business’s fifty day simple moving average is $29.54. Advanced Drainage Systems has a 1-year low of $23.04 and a 1-year high of $33.50. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 26.17 and a beta of 0.88. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.26 and a quick ratio of 0.98.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Thursday, May 23rd. The construction company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.03. Advanced Drainage Systems had a return on equity of 37.25% and a net margin of 5.39%. The firm had revenue of $272.22 million for the quarter, compared to analyst estimates of $274.41 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. Advanced Drainage Systems’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities research analysts anticipate that Advanced Drainage Systems will post 1.36 earnings per share for the current year.

The firm also recently disclosed a special dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, May 31st. This is a positive change from Advanced Drainage Systems’s previous special dividend of $0.08. Advanced Drainage Systems’s dividend payout ratio is currently 29.51%.

A number of hedge funds have recently made changes to their positions in WMS. Pearl River Capital LLC acquired a new stake in Advanced Drainage Systems in the fourth quarter valued at $26,000. Investors Research Corp acquired a new stake in Advanced Drainage Systems in the first quarter valued at $34,000. Tortoise Index Solutions LLC acquired a new stake in Advanced Drainage Systems in the fourth quarter valued at $39,000. NumerixS Investment Technologies Inc grew its holdings in Advanced Drainage Systems by 250.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the construction company’s stock valued at $51,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in Advanced Drainage Systems by 56.9% in the fourth quarter. Great West Life Assurance Co. Can now owns 6,447 shares of the construction company’s stock valued at $150,000 after purchasing an additional 2,337 shares during the last quarter. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

About Advanced Drainage Systems

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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