Zacks Investment Research downgraded shares of Advanced Drainage Systems (NYSE:WMS) from a buy rating to a hold rating in a research report released on Tuesday.

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 analysts have also issued reports on WMS. Boenning Scattergood restated a hold rating on shares of Advanced Drainage Systems in a report on Thursday, August 9th. Barclays boosted their price objective on shares of Advanced Drainage Systems from $29.00 to $30.00 and gave the company an equal weight rating in a report on Monday, August 13th. Citigroup boosted their price objective on shares of Advanced Drainage Systems from $29.00 to $30.00 and gave the company a neutral rating in a report on Monday, July 23rd. Finally, Robert W. Baird restated a buy rating and issued a $35.00 price objective on shares of Advanced Drainage Systems in a report on Friday, August 10th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $32.25.

Shares of WMS opened at $27.51 on Tuesday. The stock has a market capitalization of $1.63 billion, a P/E ratio of 28.38 and a beta of 0.94. Advanced Drainage Systems has a 12-month low of $17.90 and a 12-month high of $33.50. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.10 and a current ratio of 2.22.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, August 9th. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.11. The firm had revenue of $387.85 million for the quarter, compared to analyst estimates of $382.67 million. Advanced Drainage Systems had a net margin of 5.43% and a return on equity of 47.60%. Advanced Drainage Systems’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. Analysts expect that Advanced Drainage Systems will post 1.1 earnings per share for the current year.

In other Advanced Drainage Systems news, SVP Ewout Leeuwenburg sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $31.42, for a total transaction of $942,600.00. Following the sale, the senior vice president now directly owns 73,062 shares in the company, valued at $2,295,608.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Berkshire Partners Holdings Ll purchased 1,500,000 shares of the business’s stock in a transaction on Tuesday, August 28th. The shares were acquired at an average price of $30.08 per share, for a total transaction of $45,120,000.00. Following the completion of the purchase, the insider now directly owns 745,556 shares of the company’s stock, valued at $22,426,324.48. The disclosure for this purchase can be found here. 20.97% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Northern Trust Corp raised its position in Advanced Drainage Systems by 19.0% in the second quarter. Northern Trust Corp now owns 556,109 shares of the construction company’s stock worth $15,877,000 after acquiring an additional 88,616 shares in the last quarter. Bank of New York Mellon Corp raised its position in Advanced Drainage Systems by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 274,540 shares of the construction company’s stock worth $7,838,000 after acquiring an additional 18,870 shares in the last quarter. Global X Management Co LLC raised its position in Advanced Drainage Systems by 19.1% in the second quarter. Global X Management Co LLC now owns 14,260 shares of the construction company’s stock worth $407,000 after acquiring an additional 2,284 shares in the last quarter. Millennium Management LLC raised its position in Advanced Drainage Systems by 20.4% in the second quarter. Millennium Management LLC now owns 236,547 shares of the construction company’s stock worth $6,753,000 after acquiring an additional 40,076 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in Advanced Drainage Systems in the second quarter worth $416,000. Institutional investors own 78.08% of the company’s stock.

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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