Zacks Investment Research Downgrades Advanced Drainage Systems (WMS) to Sell

Zacks Investment Research downgraded shares of Advanced Drainage Systems (NYSE:WMS) from a strong-buy rating to a sell rating in a research report report published on Friday.

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. “

How to Become a New Pot Stock Millionaire

A number of other analysts have also recently weighed in on WMS. Barclays started coverage on shares of Advanced Drainage Systems in a report on Wednesday, December 20th. They set an equal weight rating and a $24.00 target price on the stock. Robert W. Baird increased their target price on shares of Advanced Drainage Systems from $28.00 to $29.00 and gave the stock an outperform rating in a report on Friday, February 9th. Finally, TheStreet raised shares of Advanced Drainage Systems from a c+ rating to a b- rating in a report on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $27.00.

Shares of NYSE:WMS opened at $25.00 on Friday. The firm has a market cap of $1,364.34, a price-to-earnings ratio of 50.00 and a beta of 0.88. Advanced Drainage Systems has a 1-year low of $17.90 and a 1-year high of $28.15. The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.01 and a current ratio of 2.10.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, February 8th. The construction company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.27. The company had revenue of $320.83 million for the quarter, compared to analysts’ expectations of $320.41 million. Advanced Drainage Systems had a net margin of 3.67% and a return on equity of 45.42%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 earnings per share. equities research analysts anticipate that Advanced Drainage Systems will post 0.73 EPS for the current year.

In other news, COO Ronald R. Vitarelli sold 5,500 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $27.16, for a total transaction of $149,380.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Thomas M. Fussner sold 20,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $26.63, for a total transaction of $532,600.00. Following the transaction, the chief operating officer now owns 560,640 shares of the company’s stock, valued at approximately $14,929,843.20. The disclosure for this sale can be found here. Insiders have sold 133,048 shares of company stock valued at $3,560,679 in the last 90 days. Insiders own 21.43% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Advanced Drainage Systems by 1.7% during the fourth quarter. BlackRock Inc. now owns 2,361,103 shares of the construction company’s stock worth $56,313,000 after acquiring an additional 39,900 shares during the last quarter. Deprince Race & Zollo Inc. grew its position in shares of Advanced Drainage Systems by 33.9% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,782,787 shares of the construction company’s stock worth $42,519,000 after acquiring an additional 451,215 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Advanced Drainage Systems by 8.8% during the third quarter. JPMorgan Chase & Co. now owns 1,240,101 shares of the construction company’s stock worth $25,918,000 after acquiring an additional 100,044 shares during the last quarter. GCA Investment Management LLC grew its position in shares of Advanced Drainage Systems by 7.7% during the fourth quarter. GCA Investment Management LLC now owns 971,663 shares of the construction company’s stock worth $23,174,000 after acquiring an additional 69,397 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Advanced Drainage Systems by 24.3% during the third quarter. Dimensional Fund Advisors LP now owns 611,249 shares of the construction company’s stock worth $12,378,000 after acquiring an additional 119,572 shares during the last quarter. Institutional investors and hedge funds own 79.63% of the company’s stock.

WARNING: This report was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this report on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The original version of this report can be viewed at https://www.chaffeybreeze.com/2018/04/17/zacks-investment-research-downgrades-advanced-drainage-systems-wms-to-sell.html.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products for non-residential, residential, agriculture, and infrastructure applications in the United States and internationally. The company provides single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products comprising storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.

Get a free copy of the Zacks research report on Advanced Drainage Systems (WMS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Advanced Drainage Systems (NYSE:WMS)

Receive News & Ratings for Advanced Drainage Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Drainage Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply