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

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. “

Several other equities analysts have also commented on the company. Robert W. Baird restated a “buy” rating and set a $25.00 price target on shares of Advanced Drainage Systems in a research note on Wednesday. BidaskClub lowered Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. ValuEngine lowered Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, Boenning Scattergood restated a “hold” rating on shares of Advanced Drainage Systems in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Advanced Drainage Systems currently has a consensus rating of “Hold” and a consensus target price of $24.00.

Shares of Advanced Drainage Systems (NYSE WMS) opened at 20.00 on Thursday. Advanced Drainage Systems has a one year low of $18.40 and a one year high of $26.30. The company has a market cap of $1.10 billion, a PE ratio of 40.57 and a beta of 0.94. The stock’s 50 day moving average is $20.05 and its 200-day moving average is $20.85.

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

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In related news, major shareholder Berkshire Partners Holdings Ll bought 3,446,293 shares of the business’s stock in a transaction on Monday, August 7th. The shares were bought at an average price of $20.32 per share, for a total transaction of $70,028,673.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert M. Klein sold 20,000 shares of Advanced Drainage Systems stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $20.77, for a total value of $415,400.00. Following the completion of the transaction, the executive vice president now owns 340,205 shares in the company, valued at approximately $7,066,057.85. The disclosure for this sale can be found here. 21.43% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its stake in Advanced Drainage Systems by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 109,781 shares of the construction company’s stock valued at $3,005,000 after purchasing an additional 1,950 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Advanced Drainage Systems by 7.0% in the fourth quarter. California Public Employees Retirement System now owns 253,600 shares of the construction company’s stock worth $6,094,000 after acquiring an additional 16,700 shares in the last quarter. Deutsche Bank AG boosted its holdings in Advanced Drainage Systems by 318.9% in the fourth quarter. Deutsche Bank AG now owns 125,828 shares of the construction company’s stock worth $3,023,000 after acquiring an additional 95,792 shares in the last quarter. Federated Investors Inc. PA boosted its holdings in Advanced Drainage Systems by 20.0% in the fourth quarter. Federated Investors Inc. PA now owns 204,000 shares of the construction company’s stock worth $4,902,000 after acquiring an additional 34,000 shares in the last quarter. Finally, Norges Bank acquired a new stake in Advanced Drainage Systems in the fourth quarter worth about $11,558,000. Institutional investors own 78.58% 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.

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