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

Several other brokerages have also issued reports on WMS. Royal Bank Of Canada reaffirmed a “hold” rating and set a $25.00 target price on shares of Advanced Drainage Systems in a research report on Monday, April 24th. Boenning Scattergood reaffirmed a “hold” rating on shares of Advanced Drainage Systems in a research report on Thursday, May 25th. BidaskClub raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, ValuEngine lowered Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Advanced Drainage Systems presently has an average rating of “Hold” and a consensus price target of $25.33.

Shares of Advanced Drainage Systems (NYSE WMS) opened at 20.75 on Thursday. The stock’s 50 day moving average price is $20.30 and its 200-day moving average price is $21.72. The company has a market cap of $1.15 billion, a P/E ratio of 41.50 and a beta of 0.92. Advanced Drainage Systems has a 52-week low of $18.40 and a 52-week high of $26.48.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.06. Advanced Drainage Systems had a net margin of 2.50% and a return on equity of 62.10%. The firm had revenue of $358.36 million during the quarter, compared to the consensus estimate of $372.63 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. Equities analysts expect that Advanced Drainage Systems will post $1.09 EPS for the current year.

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In other Advanced Drainage Systems news, major shareholder Berkshire Partners Holdings Ll purchased 3,446,293 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was purchased at an average cost of $20.32 per share, for a total transaction of $70,028,673.76. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Joseph A. Chlapaty purchased 10,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were acquired at an average price of $20.28 per share, with a total value of $202,800.00. Following the completion of the acquisition, the chairman now owns 227,786 shares in the company, valued at approximately $4,619,500.08. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 3,486,293 shares of company stock valued at $70,813,174. Company insiders own 21.43% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. GCA Investment Management LLC purchased a new stake in shares of Advanced Drainage Systems during the second quarter valued at approximately $16,841,000. Wellington Management Group LLP increased its stake in shares of Advanced Drainage Systems by 10.2% in the first quarter. Wellington Management Group LLP now owns 7,230,878 shares of the construction company’s stock valued at $158,356,000 after buying an additional 671,198 shares in the last quarter. Norges Bank purchased a new stake in shares of Advanced Drainage Systems during the fourth quarter valued at approximately $11,558,000. JPMorgan Chase & Co. increased its stake in shares of Advanced Drainage Systems by 44.3% in the first quarter. JPMorgan Chase & Co. now owns 1,258,633 shares of the construction company’s stock valued at $27,564,000 after buying an additional 386,541 shares in the last quarter. Finally, ACK Asset Management LLC increased its stake in shares of Advanced Drainage Systems by 29.6% in the first quarter. ACK Asset Management LLC now owns 1,335,000 shares of the construction company’s stock valued at $28,959,000 after buying an additional 305,000 shares in the last quarter. Institutional investors own 79.84% of the company’s stock.

About Advanced Drainage Systems

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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