Stephens downgraded Advanced Drainage (WMS) to Equal Weight from Overweight with a price target of $135, down from $170. The company recently announced fiscal Q2 results that missed across the board and lowered FY25 guidance, reflecting weaker commercial demand, ongoing mix impacts, and negative price-cost given recent difficulty in passing-through rising material costs in the soft demand environment, the analyst tells investors. While the firm still believes in the longer-term conversion story, it thinks negative price-cost trends likely continue until demand returns.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on WMS:
- Advanced Drainage price target lowered to $170 from $180 at Loop Capital
- Advanced Drainage price target lowered to $184 from $192 at Oppenheimer
- Advanced Drainage price target lowered to $180 from $195 at KeyBanc
- Advanced Drainage price target lowered to $161 from $174 at Baird
- 3 Best Stocks to Buy Now, 11/11/2024, According to Top Analysts
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
