Advanced Drainage Systems (NYSE:WMS) Upgraded at Zacks Research

Advanced Drainage Systems (NYSE:WMS) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Oppenheimer lowered their target price on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 26th. Royal Bank Of Canada increased their price target on shares of Advanced Drainage Systems from $168.00 to $170.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Stephens raised Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $190.00 to $175.00 in a research note on Wednesday, May 27th. UBS Group lowered their target price on Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Finally, Jefferies Financial Group initiated coverage on shares of Advanced Drainage Systems in a report on Thursday, June 11th. They set a “buy” rating and a $175.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Advanced Drainage Systems has an average rating of “Moderate Buy” and a consensus target price of $187.00.

Advanced Drainage Systems Stock Up 1.3%

Advanced Drainage Systems stock opened at $145.12 on Monday. The company’s 50-day moving average is $142.71 and its 200-day moving average is $148.63. The firm has a market capitalization of $11.12 billion, a PE ratio of 26.68, a P/E/G ratio of 1.54 and a beta of 1.26. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.42 and a quick ratio of 1.35. Advanced Drainage Systems has a fifty-two week low of $110.85 and a fifty-two week high of $179.32.

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

Hedge Funds Weigh In On Advanced Drainage Systems

A number of large investors have recently modified their holdings of the company. State Street Corp grew its holdings in shares of Advanced Drainage Systems by 3.1% during the third quarter. State Street Corp now owns 2,551,901 shares of the construction company’s stock valued at $353,949,000 after buying an additional 75,777 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of Advanced Drainage Systems by 32.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company’s stock valued at $302,290,000 after purchasing an additional 546,298 shares during the last quarter. Amundi increased its holdings in Advanced Drainage Systems by 0.7% during the first quarter. Amundi now owns 1,288,672 shares of the construction company’s stock worth $176,734,000 after buying an additional 9,096 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Advanced Drainage Systems by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 1,271,453 shares of the construction company’s stock worth $184,184,000 after purchasing an additional 15,069 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Advanced Drainage Systems by 6.3% in the fourth quarter. Wellington Management Group LLP now owns 1,264,156 shares of the construction company’s stock valued at $183,088,000 after buying an additional 75,250 shares during the period. 89.83% of the stock is currently owned by institutional investors.

About Advanced Drainage Systems

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.