Advanced Drainage Systems Inc. (NYSE:WMS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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. “

Other research analysts also recently issued research reports about the stock. TheStreet raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, June 7th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $25.00 target price (up previously from $24.00) on shares of Advanced Drainage Systems in a research report on Wednesday, June 8th. Royal Bank Of Canada raised their target price on shares of Advanced Drainage Systems from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, June 8th. Finally, Boenning Scattergood downgraded shares of Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $29.33.

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Shares of Advanced Drainage Systems (NYSE:WMS) traded up 0.26% on Tuesday, hitting $23.38. 47,217 shares of the stock were exchanged. The company has a 50-day moving average price of $24.63 and a 200-day moving average price of $24.42. Advanced Drainage Systems has a one year low of $17.72 and a one year high of $32.50. The firm has a market capitalization of $1.73 billion, a PE ratio of 86.59 and a beta of 0.86.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Tuesday, August 30th.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its position in shares of Advanced Drainage Systems by 12.7% in the first quarter. Barclays PLC now owns 19,599 shares of the company’s stock worth $412,000 after buying an additional 2,210 shares during the period. Springbok Capital Management LLC purchased a new position in shares of Advanced Drainage Systems during the first quarter worth approximately $245,000. Legal & General Group Plc increased its position in shares of Advanced Drainage Systems by 0.3% in the first quarter. Legal & General Group Plc now owns 9,099 shares of the company’s stock worth $187,000 after buying an additional 23 shares during the period. Allen Investment Management LLC purchased a new position in shares of Advanced Drainage Systems during the first quarter worth approximately $2,254,000. Finally, Geode Capital Management LLC increased its position in shares of Advanced Drainage Systems by 4.3% in the first quarter. Geode Capital Management LLC now owns 216,198 shares of the company’s stock worth $4,605,000 after buying an additional 8,863 shares during the period. 71.19% of the stock is owned by institutional investors.

Advanced Drainage Systems Company Profile

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.

5 Day Chart for NYSE:WMS

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