Advanced Drainage Systems Inc. (NYSE:WMS)’s share price traded down 1.2% during mid-day trading on Friday . The company traded as low as $22.77 and last traded at $22.95, with a volume of 111,430 shares. The stock had previously closed at $23.24.

A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Thursday, August 11th. Boenning Scattergood cut shares of Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 11th. Royal Bank Of Canada lifted their target price on shares of Advanced Drainage Systems from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 8th. Deutsche Bank AG restated a “hold” rating and set a $25.00 target price (up previously from $24.00) on shares of Advanced Drainage Systems in a research report on Wednesday, June 8th. Finally, TheStreet upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, June 7th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Advanced Drainage Systems currently has a consensus rating of “Hold” and a consensus target price of $29.33.

The stock has a market capitalization of $1.25 billion and a price-to-earnings ratio of 77.00. The company has a 50 day moving average price of $26.02 and a 200 day moving average price of $24.03.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be given a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.24 annualized dividend and a dividend yield of 1.04%.

In other Advanced Drainage Systems news, CEO Joseph A. Chlapaty acquired 35,000 shares of Advanced Drainage Systems stock in a transaction dated Monday, June 13th. The stock was bought at an average cost of $25.98 per share, with a total value of $909,300.00. Following the completion of the transaction, the chief executive officer now owns 182,331 shares of the company’s stock, valued at $4,736,959.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph A. Chlapaty acquired 65,500 shares of Advanced Drainage Systems stock in a transaction dated Friday, June 10th. The stock was acquired at an average cost of $26.79 per share, with a total value of $1,754,745.00. Following the completion of the transaction, the chief executive officer now directly owns 182,331 shares of the company’s stock, valued at approximately $4,884,647.49. The disclosure for this purchase can be found here.

Advanced Drainage Systems, Inc designs, manufactures and markets thermoplastic corrugated pipe and related water management products. The Company operates through two segments: Domestic and International. Its product line includes corrugated high density polyethylene (HDPE) pipe, polypropylene (PP) pipe and related water management products.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.