Advanced Drainage Systems (NYSE:WMS) Given New $180.00 Price Target at KeyCorp

Advanced Drainage Systems (NYSE:WMS) had its price target trimmed by KeyCorp from $195.00 to $180.00 in a report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

A number of other analysts also recently weighed in on the stock. StockNews.com downgraded shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Oppenheimer reissued an “outperform” rating and set a $192.00 target price on shares of Advanced Drainage Systems in a research report on Thursday, August 15th. Loop Capital decreased their target price on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Barclays reduced their price objective on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, Robert W. Baird reduced their price objective on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.57.

Advanced Drainage Systems Stock Performance

Advanced Drainage Systems stock opened at $135.68 on Monday. The business has a 50 day moving average of $151.20 and a 200-day moving average of $159.57. Advanced Drainage Systems has a 1 year low of $112.11 and a 1 year high of $184.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90. The company has a market capitalization of $10.52 billion, a P/E ratio of 21.61, a P/E/G ratio of 1.15 and a beta of 1.53.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). The firm had revenue of $782.60 million for the quarter, compared to analyst estimates of $819.41 million. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.71 EPS. On average, equities research analysts predict that Advanced Drainage Systems will post 6.95 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 2nd. Advanced Drainage Systems’s payout ratio is presently 10.19%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WMS. Swedbank AB purchased a new position in Advanced Drainage Systems during the 1st quarter valued at about $220,853,000. Vanguard Group Inc. boosted its position in shares of Advanced Drainage Systems by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock valued at $1,251,353,000 after acquiring an additional 395,099 shares during the last quarter. Boston Partners boosted its position in shares of Advanced Drainage Systems by 16.9% during the 1st quarter. Boston Partners now owns 1,519,118 shares of the construction company’s stock valued at $261,609,000 after acquiring an additional 219,629 shares during the last quarter. Millennium Management LLC boosted its position in shares of Advanced Drainage Systems by 136.2% during the 2nd quarter. Millennium Management LLC now owns 312,393 shares of the construction company’s stock valued at $50,105,000 after acquiring an additional 180,154 shares during the last quarter. Finally, Lazard Freres Gestion S.A.S. bought a new stake in shares of Advanced Drainage Systems during the 2nd quarter valued at about $28,870,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.