Zacks Investment Research downgraded shares of Advanced Drainage Systems (NYSE:WMS) from a strong-buy rating to a sell rating in a research report report published on Friday.

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. “

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WMS has been the subject of a number of other research reports. Barclays initiated coverage on shares of Advanced Drainage Systems in a research report on Wednesday, December 20th. They issued an equal weight rating and a $24.00 target price for the company. TheStreet upgraded shares of Advanced Drainage Systems from a c+ rating to a b- rating in a research report on Tuesday, February 13th. Finally, Robert W. Baird increased their target price on shares of Advanced Drainage Systems from $28.00 to $29.00 and gave the company an outperform rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $27.00.

Shares of WMS opened at $25.00 on Friday. The stock has a market capitalization of $1,364.34, a P/E ratio of 50.00 and a beta of 0.88. The company has a debt-to-equity ratio of 2.44, a current ratio of 2.10 and a quick ratio of 1.01. Advanced Drainage Systems has a 52-week low of $17.90 and a 52-week high of $28.15.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, February 8th. The construction company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.27. The firm had revenue of $320.83 million during the quarter, compared to analyst estimates of $320.41 million. Advanced Drainage Systems had a net margin of 3.67% and a return on equity of 45.42%. Advanced Drainage Systems’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 EPS. equities research analysts expect that Advanced Drainage Systems will post 0.73 EPS for the current fiscal year.

In other news, SVP Ewout Leeuwenburg sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $26.20, for a total transaction of $917,000.00. Following the completion of the transaction, the senior vice president now owns 97,415 shares in the company, valued at approximately $2,552,273. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Ronald R. Vitarelli sold 5,500 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $27.16, for a total transaction of $149,380.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,048 shares of company stock valued at $3,560,679. Insiders own 21.43% of the company’s stock.

Several large investors have recently bought and sold shares of WMS. Amundi Pioneer Asset Management Inc. bought a new position in shares of Advanced Drainage Systems during the 4th quarter valued at about $13,892,000. Deprince Race & Zollo Inc. boosted its position in shares of Advanced Drainage Systems by 33.9% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,782,787 shares of the construction company’s stock valued at $42,519,000 after purchasing an additional 451,215 shares in the last quarter. J. Goldman & Co LP bought a new position in shares of Advanced Drainage Systems during the 4th quarter valued at about $9,637,000. ArrowMark Colorado Holdings LLC bought a new position in shares of Advanced Drainage Systems during the 4th quarter valued at about $5,748,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Advanced Drainage Systems by 24.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 611,249 shares of the construction company’s stock valued at $12,378,000 after purchasing an additional 119,572 shares in the last quarter. Institutional investors own 79.63% of the company’s stock.

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About Advanced Drainage Systems

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

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