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

Separately, Citigroup lowered their price target on shares of Advanced Drainage Systems from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, January 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Advanced Drainage Systems currently has a consensus rating of “Hold” and an average target price of $30.50.

Shares of WMS stock opened at $27.47 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 2.24. The stock has a market cap of $1.57 billion, a PE ratio of 33.91 and a beta of 0.99. Advanced Drainage Systems has a twelve month low of $23.04 and a twelve month high of $33.50.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, February 7th. The construction company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.06). The firm had revenue of $318.11 million for the quarter, compared to analyst estimates of $339.61 million. Advanced Drainage Systems had a net margin of 4.98% and a return on equity of 37.87%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS. As a group, analysts forecast that Advanced Drainage Systems will post 1.18 earnings per share for the current year.

In related news, EVP Ronald R. Vitarelli sold 2,500 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $25.47, for a total value of $63,675.00. Following the sale, the executive vice president now directly owns 30,285 shares in the company, valued at approximately $771,358.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 20.97% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc raised its holdings in Advanced Drainage Systems by 5.0% in the 4th quarter. Legal & General Group Plc now owns 16,431 shares of the construction company’s stock valued at $398,000 after buying an additional 779 shares during the period. Pearl River Capital LLC purchased a new stake in Advanced Drainage Systems in the 4th quarter valued at about $26,000. New York State Common Retirement Fund raised its holdings in Advanced Drainage Systems by 2.4% in the 4th quarter. New York State Common Retirement Fund now owns 50,589 shares of the construction company’s stock valued at $1,227,000 after buying an additional 1,189 shares during the period. NumerixS Investment Technologies Inc raised its holdings in Advanced Drainage Systems by 250.0% in the 4th quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the construction company’s stock valued at $51,000 after buying an additional 1,500 shares during the period. Finally, Tortoise Index Solutions LLC purchased a new stake in Advanced Drainage Systems in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 80.81% 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.

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