Advanced Drainage Systems (NYSE:WMS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
A number of other analysts have also recently weighed in on WMS. TheStreet cut shares of Advanced Drainage Systems from a “b-” rating to a “c+” rating in a research note on Wednesday, October 25th. ValuEngine upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Robert W. Baird increased their price target on shares of Advanced Drainage Systems from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Citigroup initiated coverage on shares of Advanced Drainage Systems in a research note on Wednesday, November 29th. They set a “neutral” rating and a $26.00 price target for the company. Finally, Barclays initiated coverage on shares of Advanced Drainage Systems in a research note on Wednesday, December 20th. They set an “equal weight” rating and a $24.00 price target for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $25.40.
Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, February 8th. The construction company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.27. The firm had revenue of $320.83 million during the quarter, compared to analysts’ expectations of $320.41 million. Advanced Drainage Systems had a net margin of 3.67% and a return on equity of 56.36%. Advanced Drainage Systems’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 EPS. analysts anticipate that Advanced Drainage Systems will post 0.53 earnings per share for the current fiscal year.
In other news, COO Ronald R. Vitarelli sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $23.04, for a total value of $115,200.00. Following the completion of the sale, the chief operating officer now owns 54,698 shares in the company, valued at approximately $1,260,241.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas M. Fussner sold 18,325 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $23.67, for a total transaction of $433,752.75. Following the completion of the sale, the chief operating officer now owns 549,519 shares of the company’s stock, valued at approximately $13,007,114.73. The disclosure for this sale can be found here. 21.43% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in WMS. Koch Industries Inc. acquired a new stake in shares of Advanced Drainage Systems in the 4th quarter worth $217,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Advanced Drainage Systems in the 4th quarter worth $221,000. FMR LLC acquired a new stake in shares of Advanced Drainage Systems in the 2nd quarter worth $245,000. Jane Street Group LLC acquired a new stake in shares of Advanced Drainage Systems in the 3rd quarter worth $264,000. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Advanced Drainage Systems in the 4th quarter valued at about $298,000. Institutional investors own 81.88% of the company’s stock.
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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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