Advanced Drainage Systems (NYSE:WMS) Downgraded by 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 released on Thursday morning, Zacks.com reports.

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 research firms have also commented on WMS. Barclays increased their price objective on Advanced Drainage Systems from $29.00 to $35.00 and gave the company an equal weight rating in a research note on Tuesday, August 6th. TheStreet lowered Advanced Drainage Systems from a b rating to a c rating in a research note on Friday, August 2nd. Finally, ValuEngine lowered Advanced Drainage Systems from a buy rating to a hold rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $33.25.

Shares of WMS traded down $0.47 during trading hours on Thursday, reaching $33.36. 249,584 shares of the company traded hands, compared to its average volume of 297,105. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.97 and a quick ratio of 1.03. The company has a market cap of $1.96 billion, a PE ratio of 27.34 and a beta of 0.95. Advanced Drainage Systems has a fifty-two week low of $23.04 and a fifty-two week high of $35.29. The company’s fifty day moving average price is $32.81.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.29). The company had revenue of $413.70 million for the quarter, compared to analyst estimates of $413.64 million. Advanced Drainage Systems had a negative net margin of 12.86% and a positive return on equity of 34.94%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 EPS. On average, equities analysts forecast that Advanced Drainage Systems will post -3.12 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of WMS. Investors Research Corp acquired a new stake in Advanced Drainage Systems in the 1st quarter worth about $34,000. Bank of Montreal Can acquired a new stake in Advanced Drainage Systems in the 2nd quarter worth about $101,000. NumerixS Investment Technologies Inc boosted its stake in Advanced Drainage Systems by 109.5% in the 1st quarter. NumerixS Investment Technologies Inc now owns 4,400 shares of the construction company’s stock worth $112,000 after buying an additional 2,300 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Advanced Drainage Systems in the 2nd quarter worth about $135,000. Finally, Marshall Wace North America L.P. acquired a new stake in Advanced Drainage Systems in the 1st quarter worth about $163,000. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

About Advanced Drainage Systems

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.

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