A number of other brokerages have also weighed in on WMS. Stephens upped their target price on shares of Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an overweight rating in a research report on Friday. KeyCorp upped their target price on shares of Advanced Drainage Systems from $160.00 to $185.00 and gave the stock an overweight rating in a research report on Friday. Finally, Barclays increased their price objective on shares of Advanced Drainage Systems from $151.00 to $156.00 and gave the company an overweight rating in a research report on Wednesday, December 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $155.13.
Advanced Drainage Systems Stock Performance
Advanced Drainage Systems (NYSE:WMS – Get Free Report) last issued its earnings results on Thursday, February 8th. The construction company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.44. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. The firm had revenue of $662.37 million during the quarter, compared to analyst estimates of $632.69 million. During the same quarter in the prior year, the business earned $0.99 earnings per share. Advanced Drainage Systems’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities analysts forecast that Advanced Drainage Systems will post 5.52 earnings per share for the current fiscal year.
Advanced Drainage Systems Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Thursday, February 29th. Advanced Drainage Systems’s dividend payout ratio is currently 8.90%.
Institutional Investors Weigh In On Advanced Drainage Systems
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new position in Advanced Drainage Systems in the 2nd quarter worth about $40,000. Contravisory Investment Management Inc. bought a new position in Advanced Drainage Systems during the 4th quarter worth about $27,000. GAMMA Investing LLC bought a new position in Advanced Drainage Systems during the 4th quarter worth about $28,000. NBC Securities Inc. purchased a new position in shares of Advanced Drainage Systems in the 3rd quarter worth approximately $25,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of Advanced Drainage Systems by 94.2% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 233 shares of the construction company’s stock worth $27,000 after buying an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 84.69% 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, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.
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