Posted by admin on May 10th, 2022

Advanced Drainage Systems (NYSE:WMS – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, 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. “

A number of other research analysts have also recently issued reports on the company. StockNews.com assumed coverage on Advanced Drainage Systems in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Robert W. Baird lifted their target price on Advanced Drainage Systems from $149.00 to $160.00 in a research report on Friday, March 11th. Morgan Stanley upgraded Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and set a $145.00 target price on the stock in a research report on Tuesday, March 1st. Finally, UBS Group assumed coverage on Advanced Drainage Systems in a research report on Wednesday, January 19th. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $148.00.

Shares of NYSE WMS traded up $1.29 during mid-day trading on Tuesday, reaching $95.90. The company had a trading volume of 13,116 shares, compared to its average volume of 422,669. 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 one year low of $93.93 and a one year high of $138.02. The firm has a market cap of $6.90 billion, a price-to-earnings ratio of 33.77 and a beta of 1.36. The business’s 50-day simple moving average is $113.38 and its 200 day simple moving average is $119.64.

Large investors have recently added to or reduced their stakes in the company. Impax Asset Management Group plc grew its holdings in shares of Advanced Drainage Systems by 10.1% during the third quarter. Impax Asset Management Group plc now owns 2,976,737 shares of the construction company’s stock worth $321,036,000 after purchasing an additional 273,343 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Advanced Drainage Systems by 96.7% in the third quarter. Citigroup Inc. now owns 57,077 shares of the construction company’s stock worth $6,175,000 after acquiring an additional 28,055 shares during the period. Argent Capital Management LLC lifted its stake in shares of Advanced Drainage Systems by 1.5% in the fourth quarter. Argent Capital Management LLC now owns 23,814 shares of the construction company’s stock worth $3,242,000 after acquiring an additional 356 shares during the period. Royal London Asset Management Ltd. acquired a new position in shares of Advanced Drainage Systems in the fourth quarter worth approximately $1,229,000. Finally, Intrust Bank NA lifted its stake in shares of Advanced Drainage Systems by 5.1% in the fourth quarter. Intrust Bank NA now owns 3,626 shares of the construction company’s stock worth $493,000 after acquiring an additional 177 shares during the period. Institutional investors own 98.10% of the company’s stock.

Advanced Drainage Systems Company Profile (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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