Zacks Research Upgrades Advanced Drainage Systems (NYSE:WMS) to Hold

Advanced Drainage Systems (NYSE:WMS) was upgraded by stock 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 research analysts have also issued research reports about the stock. Oppenheimer dropped their price objective on shares of 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. Jefferies Financial Group started 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 for the company. Stephens upgraded Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $190.00 to $175.00 in a research note on Wednesday, May 27th. Royal Bank Of Canada upped their price target on Advanced Drainage Systems from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Advanced Drainage Systems in a research report on Monday, June 22nd. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $187.00.

Advanced Drainage Systems Stock Performance

Shares of Advanced Drainage Systems stock opened at $145.12 on Monday. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $11.12 billion, a P/E ratio of 26.68, a P/E/G ratio of 1.54 and a beta of 1.26. The business has a fifty day simple moving average of $142.71 and a two-hundred day simple moving average of $148.63. Advanced Drainage Systems has a 12 month low of $110.85 and a 12 month high of $179.32.

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

Hedge Funds Weigh In On Advanced Drainage Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its stake in shares of Advanced Drainage Systems by 352.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after purchasing an additional 176 shares during the last quarter. SJS Investment Consulting Inc. increased its holdings in Advanced Drainage Systems by 78.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock worth $33,000 after buying an additional 107 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Advanced Drainage Systems in the 3rd quarter worth about $36,000. Kestra Advisory Services LLC bought a new position in Advanced Drainage Systems during the 4th quarter valued at about $37,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Advanced Drainage Systems during the 4th quarter valued at about $42,000. 89.83% of the stock is owned by institutional investors.

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.