Advanced Drainage Systems (NYSE:WMS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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. “

A number of other equities research analysts also recently issued reports on the stock. TheStreet raised shares of Advanced Drainage Systems from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Barclays set a $25.00 target price on shares of Advanced Drainage Systems and gave the company a “hold” rating in a research note on Monday, February 12th. Finally, Robert W. Baird raised their target price on shares of Advanced Drainage Systems from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Advanced Drainage Systems currently has an average rating of “Hold” and an average target price of $27.50.

Shares of Advanced Drainage Systems stock opened at $25.80 on Thursday. Advanced Drainage Systems has a 12-month low of $17.90 and a 12-month high of $28.15. The stock has a market capitalization of $1,462.80, a PE ratio of 51.70 and a beta of 0.88. The company has a current ratio of 2.10, a quick ratio of 1.01 and a debt-to-equity ratio of 2.44.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, February 8th. The construction company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.27. Advanced Drainage Systems had a net margin of 3.67% and a return on equity of 45.42%. The firm had revenue of $320.83 million for the quarter, compared to the consensus estimate of $320.41 million. During the same period in the prior year, the firm posted $0.16 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. analysts anticipate that Advanced Drainage Systems will post 0.73 earnings per share for the current year.

In related news, SVP Ewout Leeuwenburg sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $26.20, for a total value of $917,000.00. Following the sale, the senior vice president now directly owns 97,415 shares of the company’s stock, valued at $2,552,273. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas M. Fussner sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $26.63, for a total transaction of $532,600.00. Following the completion of the sale, the chief operating officer now directly owns 560,640 shares in the company, valued at $14,929,843.20. The disclosure for this sale can be found here. Insiders sold 133,048 shares of company stock worth $3,560,679 over the last ninety days. 21.43% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in WMS. Nationwide Fund Advisors raised its stake in Advanced Drainage Systems by 84.1% in the third quarter. Nationwide Fund Advisors now owns 35,689 shares of the construction company’s stock valued at $723,000 after purchasing an additional 16,300 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Advanced Drainage Systems by 53.7% during the third quarter. Wells Fargo & Company MN now owns 45,121 shares of the construction company’s stock worth $913,000 after acquiring an additional 15,769 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Advanced Drainage Systems by 6.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 155,684 shares of the construction company’s stock worth $3,153,000 after acquiring an additional 8,915 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Advanced Drainage Systems by 24.3% during the third quarter. Dimensional Fund Advisors LP now owns 611,249 shares of the construction company’s stock worth $12,378,000 after acquiring an additional 119,572 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Advanced Drainage Systems during the third quarter worth approximately $372,000. 79.51% of the stock is currently owned by institutional investors and hedge funds.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products for non-residential, residential, agriculture, and infrastructure applications in the United States and internationally. The company provides single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products comprising storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.

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