Advanced Drainage Systems Gets a Hold Rating from Boenning & Scattergood


Boenning & Scattergood analyst Ryan Connors maintained a Hold rating on Advanced Drainage Systems (NYSE: WMS) today. The company’s shares closed on Friday at $29.20, close to its 52-week high of $31.

According to TipRanks.com, Connors is a 4-star analyst with an average return of 11.6% and a 80.8% success rate. Connors covers the Industrial Goods sector, focusing on stocks such as Watts Water Technologies, Mueller Water Products, and Franklin Electric Co.

Currently, the analyst consensus on Advanced Drainage Systems is Moderate Buy and the average price target is $30.50, representing a 4.5% upside.

In a report issued on May 30, Barclays also maintained a Hold rating on the stock with a $29 price target.

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Based on Advanced Drainage Systems’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $5.71 million. In comparison, last year the company had a GAAP net loss of $18.6 million.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock.

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Advanced Drainage Systems, Inc. engages in the manufacture of thermoplastic corrugated pipe which provides suite of water management products and superior drainage solutions for use in the construction and infrastructure marketplace. It operates through the following segments: Domestic and International.

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