Advanced Drainage Systems (NYSE:WMS) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Advanced Drainage Systems (NYSE:WMS) from a strong-buy rating to a hold rating in a report issued on Sunday, Zacks.com reports. They currently have $37.00 price objective on the construction company’s stock.

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. “

Separately, ValuEngine raised Valmont Industries from a sell rating to a hold rating in a research note on Friday, July 12th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Advanced Drainage Systems has an average rating of Buy and an average target price of $31.25.

WMS stock opened at $32.58 on Friday. The firm has a market capitalization of $1.88 billion, a P/E ratio of 26.70 and a beta of 0.95. The company has a 50-day moving average of $31.54. Advanced Drainage Systems has a 52 week low of $23.04 and a 52 week high of $33.50. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.98 and a current ratio of 2.26.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, May 23rd. The construction company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.03. The business had revenue of $272.22 million during the quarter, compared to the consensus estimate of $274.41 million. Advanced Drainage Systems had a return on equity of 37.25% and a net margin of 5.39%. Advanced Drainage Systems’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. As a group, analysts anticipate that Advanced Drainage Systems will post 1.42 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Impax Asset Management Group plc grew its position in Advanced Drainage Systems by 0.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,464,290 shares of the construction company’s stock valued at $84,009,000 after acquiring an additional 14,832 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Advanced Drainage Systems by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,192,701 shares of the construction company’s stock valued at $28,923,000 after acquiring an additional 103,572 shares during the last quarter. Norges Bank bought a new position in Advanced Drainage Systems in the fourth quarter valued at about $24,393,000. Beck Mack & Oliver LLC bought a new position in Advanced Drainage Systems in the first quarter valued at about $18,823,000. Finally, Marshall Wace LLP grew its position in Advanced Drainage Systems by 1,497.6% in the first quarter. Marshall Wace LLP now owns 705,918 shares of the construction company’s stock valued at $18,191,000 after acquiring an additional 661,733 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Advanced Drainage Systems Company Profile

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

Read More: Asset Allocation Models, Which is Right For You?

Get a free copy of the Zacks research report on Advanced Drainage Systems (WMS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Advanced Drainage Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Drainage Systems and related companies with MarketBeat.com's FREE daily email newsletter.