Advanced Drainage Systems, Inc. (NYSE:WMS) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report released on Tuesday.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Advanced Drainage Systems from a “sell” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Thursday, July 13th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Advanced Drainage Systems in a research report on Friday, May 26th. Boenning Scattergood reaffirmed a “hold” rating on shares of Advanced Drainage Systems in a research report on Thursday, May 25th. Finally, BidaskClub raised shares of Advanced Drainage Systems from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $25.33.

Shares of Advanced Drainage Systems (WMS) traded up 8.43% during midday trading on Tuesday, reaching $22.50. 931,388 shares of the company traded hands. The company has a 50-day moving average of $20.23 and a 200 day moving average of $21.78. Advanced Drainage Systems has a 12-month low of $18.40 and a 12-month high of $27.32. The firm has a market capitalization of $1.25 billion, a PE ratio of 45.00 and a beta of 0.92.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.06. Advanced Drainage Systems had a return on equity of 62.10% and a net margin of 2.50%. The firm had revenue of $358.36 million during the quarter, compared to the consensus estimate of $372.63 million. During the same period in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts forecast that Advanced Drainage Systems will post $1.09 earnings per share for the current year.

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In related news, Chairman Joseph A. Chlapaty bought 10,000 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were purchased at an average cost of $20.28 per share, for a total transaction of $202,800.00. Following the completion of the purchase, the chairman now directly owns 227,786 shares in the company, valued at $4,619,500.08. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Berkshire Partners Holdings Ll bought 3,446,293 shares of the company’s stock in a transaction on Monday, August 7th. The stock was bought at an average price of $20.32 per share, for a total transaction of $70,028,673.76. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 3,486,293 shares of company stock worth $70,813,174. Corporate insiders own 21.43% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WMS. BNP Paribas Arbitrage SA boosted its position in Advanced Drainage Systems by 133.4% in the second quarter. BNP Paribas Arbitrage SA now owns 5,259 shares of the construction company’s stock worth $106,000 after buying an additional 3,006 shares during the last quarter. Sei Investments Co. bought a new position in Advanced Drainage Systems during the first quarter worth $157,000. Manchester Capital Management LLC boosted its position in Advanced Drainage Systems by 3,123.3% in the first quarter. Manchester Capital Management LLC now owns 9,670 shares of the construction company’s stock worth $212,000 after buying an additional 9,370 shares during the last quarter. Gotham Asset Management LLC bought a new position in Advanced Drainage Systems during the first quarter worth $238,000. Finally, Paloma Partners Management Co bought a new position in Advanced Drainage Systems during the first quarter worth $295,000. Hedge funds and other institutional investors own 79.84% of the company’s stock.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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