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

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. “

WMS has been the topic of a number of other reports. TheStreet upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, June 7th. Deutsche Bank AG restated a “hold” rating and set a $25.00 target price (up from $24.00) on shares of Advanced Drainage Systems in a research report on Wednesday, June 8th. Royal Bank Of Canada raised their target price on Advanced Drainage Systems from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, June 8th. Finally, Boenning Scattergood cut Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Advanced Drainage Systems has a consensus rating of “Hold” and an average price target of $29.33.

Shares of Advanced Drainage Systems (NYSE:WMS) opened at 23.72 on Tuesday. The firm’s 50-day moving average price is $24.46 and its 200-day moving average price is $24.43. Advanced Drainage Systems has a 12 month low of $17.72 and a 12 month high of $32.50. The stock has a market capitalization of $1.75 billion, a P/E ratio of 87.85 and a beta of 0.86.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Tuesday, August 30th.

A number of large investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its stake in Advanced Drainage Systems by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 109,781 shares of the company’s stock valued at $3,005,000 after buying an additional 1,950 shares during the last quarter. Paloma Partners Management Co acquired a new position in Advanced Drainage Systems during the second quarter worth $1,069,000. Weiss Multi Strategy Advisers LLC acquired a new position in Advanced Drainage Systems during the second quarter worth $3,353,000. Guggenheim Capital LLC raised its position in Advanced Drainage Systems by 23.4% in the second quarter. Guggenheim Capital LLC now owns 92,861 shares of the company’s stock worth $2,542,000 after buying an additional 17,607 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in Advanced Drainage Systems by 135.6% in the second quarter. Parametric Portfolio Associates LLC now owns 110,771 shares of the company’s stock worth $3,032,000 after buying an additional 63,757 shares during the period. Institutional investors own 71.19% of the company’s stock.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures and markets thermoplastic corrugated pipe and related water management products. The Company operates through two segments: Domestic and International. Its product line includes corrugated high density polyethylene (HDPE) pipe, polypropylene (PP) pipe and related water management products.

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