Advanced Drainage Systems (NYSE:WMS) Earns “Equal Weight” Rating from Stephens

Stephens reiterated their equal weight rating on shares of Advanced Drainage Systems (NYSE:WMS) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $135.00 target price on the construction company’s stock, down from their previous target price of $170.00.

A number of other brokerages have also recently issued reports on WMS. Loop Capital decreased their target price on Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday. Robert W. Baird cut their price target on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday. Barclays cut their target price on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating on the stock in a research report on Monday. Oppenheimer reduced their price objective on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, StockNews.com lowered shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $170.29.

Advanced Drainage Systems Stock Performance

NYSE WMS opened at $133.05 on Wednesday. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 1.19 and a beta of 1.53. The business has a fifty day moving average of $150.64 and a 200-day moving average of $159.16. Advanced Drainage Systems has a fifty-two week low of $116.98 and a fifty-two week high of $184.27. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) 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 return on equity of 40.31% and a net margin of 16.89%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $1.71 EPS. As a group, analysts predict that Advanced Drainage Systems will post 6.5 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 Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.16 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 0.48%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 10.19%.

Institutional Trading of Advanced Drainage Systems

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

Advanced Drainage Systems Company Profile

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.