Posted by admin on May 27th, 2022

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

WMS has been the topic of a number of other research reports. Morgan Stanley lowered their price objective on Advanced Drainage Systems from $145.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, May 20th. Robert W. Baird lowered their price objective on Advanced Drainage Systems from $158.00 to $137.00 and set an “outperform” rating on the stock in a research note on Friday, May 20th. TheStreet lowered Advanced Drainage Systems from a “b” rating to a “c+” rating in a research note on Thursday, May 19th. Barclays decreased their price target on Advanced Drainage Systems from $162.00 to $138.00 and set an “overweight” rating on the stock in a research note on Friday, May 20th. Finally, StockNews.com began coverage on Advanced Drainage Systems in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Advanced Drainage Systems has an average rating of “Hold” and an average target price of $136.20.

Shares of WMS traded up $2.06 during trading hours on Friday, hitting $110.42. 1,596 shares of the stock were exchanged, compared to its average volume of 427,544. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.94 and a current ratio of 2.22. Advanced Drainage Systems has a 12-month low of $92.28 and a 12-month high of $138.02. The company has a market cap of $9.31 billion, a price-to-earnings ratio of 34.97 and a beta of 1.36. The stock’s 50-day moving average price is $109.44 and its two-hundred day moving average price is $118.43.

Advanced Drainage Systems (NYSE:WMS – Get Rating) last issued its quarterly earnings results on Thursday, May 19th. The construction company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.18). Advanced Drainage Systems had a return on equity of 39.01% and a net margin of 9.75%. The firm had revenue of $678.20 million for the quarter, compared to analysts’ expectations of $623.91 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The firm’s revenue for the quarter was up 52.8% compared to the same quarter last year. On average, research analysts expect that Advanced Drainage Systems will post 4.61 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of WMS. Allspring Global Investments Holdings LLC acquired a new position in Advanced Drainage Systems during the 4th quarter worth about $156,123,000. Alyeska Investment Group L.P. lifted its stake in Advanced Drainage Systems by 620.5% during the 1st quarter. Alyeska Investment Group L.P. now owns 770,259 shares of the construction company’s stock worth $91,514,000 after acquiring an additional 663,347 shares in the last quarter. Boston Partners lifted its stake in Advanced Drainage Systems by 73.5% during the 4th quarter. Boston Partners now owns 1,415,975 shares of the construction company’s stock worth $192,734,000 after acquiring an additional 599,778 shares in the last quarter. Norges Bank acquired a new position in Advanced Drainage Systems during the 4th quarter worth about $76,032,000. Finally, JPMorgan Chase & Co. lifted its stake in Advanced Drainage Systems by 47.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,730,806 shares of the construction company’s stock worth $235,614,000 after acquiring an additional 553,911 shares in the last quarter. 98.10% of the stock is currently owned by hedge funds and other institutional investors.

About Advanced Drainage Systems (Get Rating)

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the underground construction and infrastructure marketplace in the United States, Canada, Mexico, and internationally. It operates through Pipe, International and Infiltrator, and Allied Products & Other segments.

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