Advanced Drainage Systems (NYSE:WMS) Downgraded by Zacks Research to “Strong Sell”

Advanced Drainage Systems (NYSE:WMS) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. KeyCorp cut their target price on Advanced Drainage Systems from $198.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, May 22nd. Jefferies Financial Group assumed coverage on Advanced Drainage Systems in a research note on Thursday, June 11th. They set a “buy” rating and a $175.00 price target for the company. Barclays cut their price objective on Advanced Drainage Systems from $198.00 to $181.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. UBS Group decreased their target price on Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Finally, Oppenheimer lowered their price target on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a report on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and a consensus target price of $185.75.

Advanced Drainage Systems Price Performance

NYSE WMS opened at $147.28 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 2.42 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $11.29 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 1.50 and a beta of 1.29. Advanced Drainage Systems has a 12-month low of $109.63 and a 12-month high of $179.32. The company has a 50 day moving average price of $141.97 and a two-hundred day moving average price of $148.80.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, May 21st. The construction company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.95 by $0.12. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The company had revenue of $676.76 million for the quarter, compared to analyst estimates of $651.92 million. During the same quarter in the prior year, the business posted $1.03 EPS. Advanced Drainage Systems’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, equities analysts predict that Advanced Drainage Systems will post 6.55 earnings per share for the current fiscal year.

Institutional Trading of Advanced Drainage Systems

Several hedge funds have recently added to or reduced their stakes in WMS. Northwestern Mutual Wealth Management Co. increased its position in Advanced Drainage Systems by 352.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after buying an additional 176 shares during the period. SJS Investment Consulting Inc. boosted its position in shares of Advanced Drainage Systems by 78.1% in the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock valued at $33,000 after acquiring an additional 107 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Advanced Drainage Systems in the third quarter valued at approximately $36,000. Kestra Advisory Services LLC bought a new stake in shares of Advanced Drainage Systems in the fourth quarter valued at approximately $37,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Advanced Drainage Systems in the fourth quarter worth $42,000. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.