Advanced Drainage Systems, Inc. (NYSE:WMS) was downgraded by research analysts at TheStreet from a “b-” rating to a “c+” rating in a report released on Wednesday.

A number of other research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Robert W. Baird reaffirmed a “buy” rating and issued a $25.00 target price on shares of Advanced Drainage Systems in a research report on Wednesday, October 4th. BidaskClub cut shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. ValuEngine cut shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Advanced Drainage Systems in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.00.

Shares of Advanced Drainage Systems (NYSE WMS) traded down 1.07% during midday trading on Wednesday, reaching $18.50. 205,406 shares of the company were exchanged. Advanced Drainage Systems has a 52 week low of $17.90 and a 52 week high of $26.30. The firm has a 50-day moving average of $19.83 and a 200 day moving average of $20.55. The firm has a market capitalization of $1.02 billion, a P/E ratio of 37.53 and a beta of 0.94.

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

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

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Advanced Drainage Systems by 3.2% in the second quarter. Vanguard Group Inc. now owns 3,046,676 shares of the construction company’s stock valued at $61,238,000 after acquiring an additional 95,375 shares in the last quarter. Pictet Asset Management Ltd. raised its holdings in Advanced Drainage Systems by 6.8% in the second quarter. Pictet Asset Management Ltd. now owns 2,850,429 shares of the construction company’s stock valued at $54,586,000 after acquiring an additional 182,167 shares in the last quarter. Berkshire Partners LLC acquired a new stake in Advanced Drainage Systems in the second quarter valued at approximately $41,534,000. Lord Abbett & CO. LLC raised its holdings in Advanced Drainage Systems by 13.9% in the second quarter. Lord Abbett & CO. LLC now owns 1,152,458 shares of the construction company’s stock valued at $23,164,000 after acquiring an additional 140,252 shares in the last quarter. Finally, GCA Investment Management LLC acquired a new stake in Advanced Drainage Systems in the second quarter valued at approximately $16,841,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.

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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