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

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 research analysts also recently issued reports on WMS. Boenning Scattergood reiterated a “hold” rating on shares of Advanced Drainage Systems in a report on Thursday, August 9th. Barclays upped their price target on shares of Advanced Drainage Systems from $29.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, August 13th. ValuEngine downgraded shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Monday, November 12th. Robert W. Baird lowered their price target on shares of Advanced Drainage Systems from $35.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, November 12th. Finally, Citigroup lowered their price target on shares of Advanced Drainage Systems from $35.00 to $30.00 and set a “hold” rating for the company in a report on Monday, November 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.00.

Shares of NYSE:WMS traded up $0.14 during trading on Friday, hitting $25.92. 2,322 shares of the company were exchanged, compared to its average volume of 191,872. The company has a market capitalization of $1.49 billion, a PE ratio of 32.00 and a beta of 1.01. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 2.31. Advanced Drainage Systems has a 1-year low of $21.70 and a 1-year high of $33.50.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, November 8th. The construction company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $406.56 million during the quarter, compared to the consensus estimate of $417.03 million. Advanced Drainage Systems had a net margin of 6.20% and a return on equity of 46.15%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 earnings per share. On average, equities analysts forecast that Advanced Drainage Systems will post 1.07 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of WMS. BlackRock Inc. increased its holdings in Advanced Drainage Systems by 30.4% in the second quarter. BlackRock Inc. now owns 3,099,765 shares of the construction company’s stock valued at $88,498,000 after purchasing an additional 723,150 shares during the period. Federated Investors Inc. PA increased its holdings in Advanced Drainage Systems by 474.9% in the second quarter. Federated Investors Inc. PA now owns 349,469 shares of the construction company’s stock valued at $9,977,000 after purchasing an additional 288,684 shares during the period. JPMorgan Chase & Co. increased its holdings in Advanced Drainage Systems by 12.7% in the third quarter. JPMorgan Chase & Co. now owns 1,943,128 shares of the construction company’s stock valued at $60,041,000 after purchasing an additional 219,049 shares during the period. Vanguard Group Inc. increased its holdings in Advanced Drainage Systems by 6.3% in the third quarter. Vanguard Group Inc. now owns 3,493,825 shares of the construction company’s stock valued at $107,959,000 after purchasing an additional 206,839 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Advanced Drainage Systems by 22.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,009,560 shares of the construction company’s stock valued at $28,823,000 after purchasing an additional 184,617 shares during the period. Institutional investors and hedge funds own 79.71% 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.

Recommended Story: Fiduciary

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.