Advanced Drainage Systems Inc (NYSE:WMS)‘s stock had its “buy” rating reaffirmed by research analysts at Robert W. Baird in a report released on Friday. They currently have a $24.00 target price on the construction company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 14.83% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Royal Bank Of Canada restated a “hold” rating on shares of Advanced Drainage Systems in a report on Friday, May 26th. Boenning Scattergood restated a “hold” rating on shares of Advanced Drainage Systems in a report on Thursday, August 3rd. ValuEngine downgraded shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Finally, Zacks Investment Research downgraded shares of Advanced Drainage Systems from a “buy” rating to a “sell” rating in a report on Thursday, August 10th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $23.67.

Shares of Advanced Drainage Systems (NYSE WMS) traded up 2.20% during mid-day trading on Friday, reaching $20.90. 292,453 shares of the company were exchanged. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 42.39 and a beta of 0.93. The firm’s 50-day moving average is $20.09 and its 200-day moving average is $21.10. Advanced Drainage Systems has a 12 month low of $18.40 and a 12 month high of $26.30.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.06. The business had revenue of $358.36 million for the quarter, compared to the consensus estimate of $372.63 million. Advanced Drainage Systems had a net margin of 5.09% and a return on equity of 159.56%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 EPS. On average, equities analysts forecast that Advanced Drainage Systems will post $1.09 earnings per share for the current fiscal year.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Manchester Capital Management LLC raised its holdings in Advanced Drainage Systems by 1.0% in the 2nd quarter. Manchester Capital Management LLC now owns 9,770 shares of the construction company’s stock worth $196,000 after acquiring an additional 100 shares during the period. Stifel Financial Corp raised its holdings in Advanced Drainage Systems by 0.4% in the 2nd quarter. Stifel Financial Corp now owns 40,687 shares of the construction company’s stock worth $813,000 after acquiring an additional 164 shares during the period. Rhumbline Advisers raised its holdings in Advanced Drainage Systems by 0.5% in the 2nd quarter. Rhumbline Advisers now owns 38,851 shares of the construction company’s stock worth $781,000 after acquiring an additional 178 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Advanced Drainage Systems by 1.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,011 shares of the construction company’s stock worth $563,000 after acquiring an additional 346 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in Advanced Drainage Systems by 0.9% in the 2nd quarter. Alliancebernstein L.P. now owns 67,718 shares of the construction company’s stock worth $1,361,000 after acquiring an additional 609 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

About Advanced Drainage Systems

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.

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