Zacks Investment Research downgraded shares of Advanced Drainage Systems (NYSE:WMS) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

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. “

A number of other equities analysts have also recently weighed in on the stock. Robert W. Baird restated a buy rating and set a $35.00 price objective on shares of Advanced Drainage Systems in a research report on Friday, August 10th. Citigroup upped their price objective on shares of Advanced Drainage Systems from $29.00 to $30.00 and gave the stock a neutral rating in a research report on Monday, July 23rd. Barclays upped their price objective on shares of Advanced Drainage Systems from $29.00 to $30.00 and gave the stock an equal weight rating in a research report on Monday, August 13th. Boenning Scattergood restated a hold rating on shares of Advanced Drainage Systems in a research report on Thursday, August 9th. Finally, ValuEngine cut shares of Advanced Drainage Systems from a buy rating to a hold rating in a research report on Monday, November 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $32.00.

WMS opened at $26.76 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.31 and a debt-to-equity ratio of 1.54. Advanced Drainage Systems has a 1 year low of $21.70 and a 1 year high of $33.50. The firm has a market capitalization of $1.55 billion, a P/E ratio of 33.04 and a beta of 1.02.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, November 8th. The construction company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $406.56 million during the quarter, compared to analysts’ expectations of $417.03 million. Advanced Drainage Systems had a net margin of 6.20% and a return on equity of 46.15%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 EPS. As a group, equities research analysts forecast that Advanced Drainage Systems will post 1.07 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Thursday, November 29th. Advanced Drainage Systems’s dividend payout ratio is presently 39.51%.

In related news, major shareholder Berkshire Partners Holdings Ll acquired 1,500,000 shares of Advanced Drainage Systems stock in a transaction on Tuesday, August 28th. The stock was bought at an average cost of $30.08 per share, for a total transaction of $45,120,000.00. Following the completion of the transaction, the insider now owns 745,556 shares of the company’s stock, valued at approximately $22,426,324.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 20.97% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in WMS. Millennium Management LLC grew its holdings in shares of Advanced Drainage Systems by 36.8% during the first quarter. Millennium Management LLC now owns 196,471 shares of the construction company’s stock worth $5,089,000 after buying an additional 52,800 shares in the last quarter. Algert Global LLC grew its holdings in shares of Advanced Drainage Systems by 55.7% in the second quarter. Algert Global LLC now owns 47,981 shares of the construction company’s stock valued at $1,370,000 after purchasing an additional 17,157 shares during the period. First Trust Advisors LP grew its holdings in shares of Advanced Drainage Systems by 44.4% in the second quarter. First Trust Advisors LP now owns 362,455 shares of the construction company’s stock valued at $10,348,000 after purchasing an additional 111,452 shares during the period. KBC Group NV grew its holdings in shares of Advanced Drainage Systems by 40.9% in the second quarter. KBC Group NV now owns 319,015 shares of the construction company’s stock valued at $9,108,000 after purchasing an additional 92,530 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Advanced Drainage Systems in the second quarter valued at about $530,000. 76.70% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: Asset Allocation, Balancing Your Investments

Get a free copy of the Zacks research report on Advanced Drainage Systems (WMS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Advanced Drainage Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Drainage Systems and related companies with MarketBeat.com's FREE daily email newsletter.