Advanced Drainage Systems, Inc. (WMS) Cut to Sell at BidaskClub
Advanced Drainage Systems, Inc. (NYSE:WMS) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.
A number of other brokerages also recently issued reports on WMS. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $25.00 price objective 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. Zacks Investment Research raised shares of Advanced Drainage Systems from a “sell” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Thursday, July 13th. Finally, ValuEngine downgraded shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $25.33.
Shares of Advanced Drainage Systems (NYSE:WMS) traded up 0.25% on Wednesday, hitting $20.10. 39,889 shares of the stock traded hands. Advanced Drainage Systems has a 52-week low of $18.40 and a 52-week high of $26.30. The stock’s 50 day moving average price is $20.31 and its 200 day moving average price is $21.57. The stock has a market cap of $1.11 billion, a P/E ratio of 40.77 and a beta of 0.92.
Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.06. Advanced Drainage Systems had a return on equity of 62.10% and a net margin of 2.50%. The firm had revenue of $358.36 million during the quarter, compared to analysts’ expectations of $372.63 million. During the same period in the previous year, the firm earned $0.29 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts expect that Advanced Drainage Systems will post $1.09 EPS for the current fiscal year.
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In related news, major shareholder Berkshire Partners Holdings Ll bought 3,446,293 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was bought at an average cost of $20.32 per share, for a total transaction of $70,028,673.76. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Joseph A. Chlapaty bought 10,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was bought at an average price of $20.28 per share, with a total value of $202,800.00. Following the completion of the purchase, the chairman now directly owns 227,786 shares in the company, valued at $4,619,500.08. The disclosure for this purchase can be found here. Insiders purchased a total of 3,486,293 shares of company stock valued at $70,813,174 over the last quarter. 21.43% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Advanced Drainage Systems during the fourth quarter worth approximately $11,558,000. Wells Fargo & Company MN boosted its stake in Advanced Drainage Systems by 19.3% in the first quarter. Wells Fargo & Company MN now owns 32,136 shares of the construction company’s stock worth $703,000 after buying an additional 5,205 shares during the period. Marshall Wace North America L.P. bought a new stake in Advanced Drainage Systems during the first quarter worth approximately $4,801,000. PNC Financial Services Group Inc. boosted its stake in Advanced Drainage Systems by 1.0% in the first quarter. PNC Financial Services Group Inc. now owns 434,163 shares of the construction company’s stock worth $9,508,000 after buying an additional 4,200 shares during the period. Finally, Swiss National Bank boosted its stake in Advanced Drainage Systems by 3.4% in the first quarter. Swiss National Bank now owns 67,200 shares of the construction company’s stock worth $1,472,000 after buying an additional 2,200 shares during the period. Institutional investors own 81.25% 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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