Advanced Drainage Systems Inc (WMS) Upgraded to “Hold” by ValuEngine
Advanced Drainage Systems Inc (NYSE:WMS) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
WMS has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Robert W. Baird restated a “buy” rating and set a $25.00 price target on shares of Advanced Drainage Systems in a report on Wednesday, October 4th. BidaskClub upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Boenning Scattergood restated a “hold” rating on shares of Advanced Drainage Systems in a report on Thursday, August 3rd. Finally, TheStreet cut shares of Advanced Drainage Systems from a “b-” rating to a “c+” rating in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $24.00.
Advanced Drainage Systems (NYSE:WMS) traded up 6.25% on Tuesday, hitting $19.55. The company had a trading volume of 626,431 shares. The stock has a market cap of $1.08 billion, a P/E ratio of 39.66 and a beta of 0.94. Advanced Drainage Systems has a 12-month low of $17.90 and a 12-month high of $26.30. The firm’s 50 day moving average price is $19.73 and its 200 day moving average price is $20.50.
Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results 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 net margin of 2.50% and a return on equity of 62.10%. The firm had revenue of $358.36 million for the quarter, compared to the consensus estimate of $372.63 million. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. Equities analysts predict that Advanced Drainage Systems will post $1.09 earnings per share for the current fiscal year.
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In related news, major shareholder Berkshire Partners Holdings Ll bought 3,446,293 shares of Advanced Drainage Systems stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average price of $20.32 per share, for a total transaction of $70,028,673.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the executive vice president now owns 340,205 shares of the company’s stock, valued at approximately $7,066,057.85. The disclosure for this sale can be found here. 21.43% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its stake in shares of Advanced Drainage Systems by 2.0% in the third quarter. First Trust Advisors LP now owns 270,944 shares of the construction company’s stock valued at $5,487,000 after buying an additional 5,265 shares during the period. Nationwide Fund Advisors lifted its stake in Advanced Drainage Systems by 84.1% during the third quarter. Nationwide Fund Advisors now owns 35,689 shares of the construction company’s stock worth $723,000 after purchasing an additional 16,300 shares during the period. First Financial Bank Trust Division bought a new position in Advanced Drainage Systems during the third quarter worth about $527,000. Lord Abbett & CO. LLC lifted its stake in Advanced Drainage Systems by 13.9% during the second quarter. Lord Abbett & CO. LLC now owns 1,152,458 shares of the construction company’s stock worth $23,164,000 after purchasing an additional 140,252 shares during the period. Finally, Susquehanna International Group LLP lifted its stake in Advanced Drainage Systems by 125.3% during the second quarter. Susquehanna International Group LLP now owns 102,438 shares of the construction company’s stock worth $2,059,000 after purchasing an additional 56,964 shares during the period. Institutional investors and hedge funds own 78.67% 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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