Advanced Drainage Systems Inc (WMS) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Advanced Drainage Systems Inc (NYSE:WMS) have earned an average recommendation of “Hold” from the six brokerages that are presently covering the stock. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $26.33.

Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Royal Bank of Canada reaffirmed a “hold” rating and set a $25.00 price objective on shares of Advanced Drainage Systems in a research report on Monday, April 24th.

Advanced Drainage Systems (NYSE:WMS) opened at 22.35 on Monday. The stock has a 50 day moving average of $22.47 and a 200 day moving average of $22.02. The stock has a market capitalization of $1.23 billion, a P/E ratio of 36.64 and a beta of 1.09. Advanced Drainage Systems has a 52 week low of $18.60 and a 52 week high of $28.49.

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In other news, COO Ronald R. Vitarelli sold 6,000 shares of Advanced Drainage Systems stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $22.37, for a total value of $134,220.00. Following the transaction, the chief operating officer now owns 59,698 shares of the company’s stock, valued at $1,335,444.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 22.55% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. 12 West Capital Management LP purchased a new position in Advanced Drainage Systems during the fourth quarter worth approximately $76,995,000. Wellington Management Group LLP raised its position in Advanced Drainage Systems by 10.2% in the first quarter. Wellington Management Group LLP now owns 7,230,878 shares of the construction company’s stock worth $158,356,000 after buying an additional 671,198 shares in the last quarter. Norges Bank purchased a new position in Advanced Drainage Systems during the fourth quarter worth approximately $11,558,000. JPMorgan Chase & Co. raised its position in Advanced Drainage Systems by 44.3% in the first quarter. JPMorgan Chase & Co. now owns 1,258,633 shares of the construction company’s stock worth $27,564,000 after buying an additional 386,541 shares in the last quarter. Finally, ACK Asset Management LLC raised its position in Advanced Drainage Systems by 29.6% in the first quarter. ACK Asset Management LLC now owns 1,335,000 shares of the construction company’s stock worth $28,959,000 after buying an additional 305,000 shares in the last quarter. 69.78% of the stock is currently owned by institutional investors.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.

12 Month Chart for NYSE:WMS

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