Advanced Drainage Systems, Inc. (NYSE:WMS) Receives Average Recommendation of “Buy” from Brokerages

Advanced Drainage Systems, Inc. (NYSE:WMS) has been given a consensus rating of “Buy” by the seven ratings firms that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $190.14.

A number of research firms recently issued reports on WMS. Oppenheimer reissued an “outperform” rating and set a $192.00 price target on shares of Advanced Drainage Systems in a report on Thursday, August 15th. Loop Capital dropped their target price on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. StockNews.com cut Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Barclays lowered their price objective on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, Robert W. Baird cut 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.

Advanced Drainage Systems Price Performance

Shares of NYSE WMS opened at $152.45 on Monday. The company has a current ratio of 2.89, a quick ratio of 1.90 and a debt-to-equity ratio of 1.04. The stock has a market cap of $11.82 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.26 and a beta of 1.53. The stock has a 50 day moving average of $156.10 and a two-hundred day moving average of $162.60. Advanced Drainage Systems has a twelve month low of $102.32 and a twelve month high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.08. The firm had revenue of $815.34 million during the quarter, compared to analysts’ expectations of $828.00 million. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. On average, research analysts forecast that Advanced Drainage Systems will post 6.95 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, August 30th. Advanced Drainage Systems’s payout ratio is 9.94%.

Institutional Investors Weigh In On Advanced Drainage Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Advanced Drainage Systems by 319.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock valued at $26,000 after purchasing an additional 115 shares in the last quarter. West Oak Capital LLC grew its position in Advanced Drainage Systems by 133.3% during the second quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after buying an additional 100 shares during the period. Blue Trust Inc. grew its position in Advanced Drainage Systems by 1,472.7% during the second quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock worth $30,000 after buying an additional 162 shares during the period. Rise Advisors LLC purchased a new position in Advanced Drainage Systems in the first quarter valued at about $32,000. Finally, National Bank of Canada FI acquired a new stake in shares of Advanced Drainage Systems during the 2nd quarter valued at approximately $45,000. Institutional investors and hedge funds 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, 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.