Revenue Update on Advanced Drainage Systems Inc(NYSE:WMS)

Advanced Drainage Systems Inc(NYSE:WMS) announced the earnings results for Fiscal Year 2017 and Q1. The results came in during Pre-market on Oct 6, 2016. Company reported revenue of $357.58M. Analysts estimated a revenue of $136.60M. Earnings per share were $0.37.

In a different note, On Aug 11, 2016, Boenning & Scattergood said it Downgrades its rating on Advanced Drainage Systems Inc. The shares have been rated ‘Neutral’ by the firm.

Advanced Drainage Systems Inc (WMS) shares turned negative on Fridays trading session with the shares closing down -0.25 points or -1.11% at a volume of 3,55,520. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $23.05. The peak price level was also seen at $23.05 while the days lowest was $22.2. Finally the shares closed at $22.25. The 52-week high of the shares is $32.4 while the 52-week low is $17.72. According to the latest information available, the market cap of the company is $1,221 M.

Several Insider Transactions has been reported to the SEC. On Jun 15, 2016, Joseph A Chlapaty (CEO) purchased 35,000 shares at $25.98 per share price.Also, On May 28, 2015, Ewout Leeuwenburg (SVP, International) sold 18,500 shares at $29.20 per share price.On May 26, 2015, Ronald R Vitarelli (EVP & Co-COO) sold 5,000 shares at $29.04 per share price, according to the Form-4 filing with the securities and exchange commission.

Advanced Drainage Systems Inc. designs manufactures and markets thermoplastic corrugated pipe and related water management products. The Company operates through two segments: Domestic and International. Its product line includes corrugated high density polyethylene (HDPE) pipe polypropylene (PP) pipe and related water management products. Its product categories include pipe fittings Nyloplast drainage structures StormTech chambers water quality onsite leaching systems and concrete structures. Its Domestic segment manufactures and markets products throughout the United States. Its International segment manufactures and markets products in regions outside of the United States with focus on its facilities in Canada and through its joint ventures and with local partners in Mexico Central America and South America. Its products are used across a range of markets and applications including non-residential residential agriculture and infrastructure applications.

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