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

WMS has been the subject of several other research reports. Boenning Scattergood cut Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a report on Thursday, August 11th. TheStreet upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Tuesday, June 7th. Deutsche Bank AG restated a “hold” rating and set a $25.00 price target (up previously from $24.00) on shares of Advanced Drainage Systems in a report on Wednesday, June 8th. Finally, Royal Bank Of Canada raised their price target on Advanced Drainage Systems from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Advanced Drainage Systems currently has a consensus rating of “Hold” and an average price target of $29.33.

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Advanced Drainage Systems (NYSE:WMS) traded up 0.34% during mid-day trading on Tuesday, reaching $23.40. The company had a trading volume of 49,749 shares. Advanced Drainage Systems has a 1-year low of $17.72 and a 1-year high of $32.50. The company has a market capitalization of $1.73 billion, a PE ratio of 86.67 and a beta of 0.86. The firm has a 50-day moving average of $24.63 and a 200 day moving average of $24.42.

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

Several large investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas raised its stake in Advanced Drainage Systems by 32.2% in the second quarter. Teacher Retirement System of Texas now owns 5,636 shares of the company’s stock valued at $154,000 after buying an additional 1,372 shares during the last quarter. Legal & General Group Plc raised its stake 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 in the last quarter. Pitcairn Co. acquired a new stake in shares of Advanced Drainage Systems during the second quarter worth about $224,000. Springbok Capital Management LLC acquired a new stake in shares of Advanced Drainage Systems during the first quarter worth about $245,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Advanced Drainage Systems during the first quarter worth about $260,000. 71.19% 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 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.

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