Loop Capital Cuts Advanced Drainage Systems (NYSE:WMS) Price Target to $170.00

Advanced Drainage Systems (NYSE:WMS) had its price target lowered by Loop Capital from $180.00 to $170.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Other research analysts also recently issued reports about the company. Robert W. Baird lowered their target price on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday. Oppenheimer lowered 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 report on Monday. StockNews.com downgraded shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Barclays reduced their target price on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a research note on Monday. Finally, KeyCorp dropped their price target on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and a consensus price target of $170.29.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $130.31 on Monday. The stock’s 50-day moving average is $150.43 and its two-hundred day moving average is $158.96. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.15 and a current ratio of 3.19. Advanced Drainage Systems has a 1 year low of $116.98 and a 1 year high of $184.27. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 1.19 and a beta of 1.53.

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). Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The business had revenue of $782.60 million for the quarter, compared to analysts’ expectations of $819.41 million. During the same quarter last year, the business posted $1.71 earnings per share. The business’s revenue was up .3% on a year-over-year basis. Analysts predict that Advanced Drainage Systems will post 6.5 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 0.49%. The ex-dividend date is Monday, December 2nd. Advanced Drainage Systems’s dividend payout ratio is currently 10.19%.

Institutional Investors Weigh In On Advanced Drainage Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in 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 increased its position in shares of Advanced Drainage Systems by 133.3% in the second quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Advanced Drainage Systems by 1,472.7% during the 2nd 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 last quarter. National Bank of Canada FI purchased a new stake in shares of Advanced Drainage Systems in the 2nd quarter worth about $45,000. Finally, Huntington National Bank grew its stake in Advanced Drainage Systems by 123.1% in the 3rd quarter. Huntington National Bank now owns 386 shares of the construction company’s stock valued at $61,000 after acquiring an additional 213 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

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.