Advanced Drainage Systems (NYSE:WMS) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Advanced Drainage Systems (NYSE:WMSGet Rating) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, Zacks.com reports. They currently have $106.00 price objective on the construction company’s stock.

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. “

WMS has been the topic of a number of other reports. Robert W. Baird upped their price objective on Advanced Drainage Systems from $149.00 to $160.00 in a report on Friday, March 11th. StockNews.com began coverage on Advanced Drainage Systems in a report on Thursday, March 31st. They issued a hold rating on the stock. Morgan Stanley upgraded Advanced Drainage Systems from an equal weight rating to an overweight rating and set a $145.00 price objective on the stock in a report on Tuesday, March 1st. Finally, UBS Group began coverage on Advanced Drainage Systems in a report on Wednesday, January 19th. They issued a neutral rating on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Advanced Drainage Systems has a consensus rating of Buy and an average price target of $146.20.

Shares of Advanced Drainage Systems stock opened at $93.55 on Wednesday. The stock has a market cap of $6.73 billion, a P/E ratio of 32.94 and a beta of 1.36. The stock’s 50 day simple moving average is $112.18 and its 200-day simple moving average is $119.29. Advanced Drainage Systems has a 1-year low of $93.29 and a 1-year high of $138.02. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.22 and a quick ratio of 0.94.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in Advanced Drainage Systems by 5.2% in the fourth quarter. BlackRock Inc. now owns 3,069,429 shares of the construction company’s stock valued at $417,842,000 after purchasing an additional 151,276 shares during the period. Impax Asset Management Group plc raised its position in Advanced Drainage Systems by 10.1% in the third quarter. Impax Asset Management Group plc now owns 2,976,737 shares of the construction company’s stock valued at $321,036,000 after purchasing an additional 273,343 shares during the period. Invesco Ltd. raised its position in Advanced Drainage Systems by 9.6% in the third quarter. Invesco Ltd. now owns 2,917,520 shares of the construction company’s stock valued at $315,588,000 after purchasing an additional 254,604 shares during the period. Artisan Partners Limited Partnership raised its position in Advanced Drainage Systems by 7.9% in the third quarter. Artisan Partners Limited Partnership now owns 2,015,309 shares of the construction company’s stock valued at $217,996,000 after purchasing an additional 147,372 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Advanced Drainage Systems by 47.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,730,806 shares of the construction company’s stock valued at $235,614,000 after purchasing an additional 553,911 shares during the period. 98.10% of the stock is currently owned by institutional investors.

About Advanced Drainage Systems (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.

Further Reading

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

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.