Advanced Drainage Systems’ (WMS) “Equal Weight” Rating Reiterated at Stephens

Stephens reiterated their equal weight rating on shares of Advanced Drainage Systems (NYSE:WMS) in a research report released on Wednesday morning, MarketBeat reports. Stephens currently has a $135.00 price objective on the construction company’s stock, down from their prior price objective of $170.00.

Several other research analysts have also issued reports on WMS. Barclays dropped their target price on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Oppenheimer dropped their price objective on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Robert W. Baird reduced 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, November 11th. KeyCorp decreased their target price on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Loop Capital reduced their price target on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Advanced Drainage Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.29.

Advanced Drainage Systems Stock Performance

NYSE WMS opened at $131.36 on Wednesday. The company has a market cap of $10.18 billion, a P/E ratio of 20.92, a P/E/G ratio of 1.18 and a beta of 1.53. The business’s 50 day moving average price is $150.26 and its 200-day moving average price is $158.75. 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 debt-to-equity ratio of 0.97, a quick ratio of 2.15 and a current ratio of 3.19.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.23). Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The firm had revenue of $782.60 million during the quarter, compared to analysts’ expectations of $819.41 million. During the same period in the prior year, the company posted $1.71 EPS. The company’s revenue was up .3% compared to the same quarter last year. Sell-side analysts predict that Advanced Drainage Systems will post 6.5 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.16 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.64 annualized dividend and a dividend yield of 0.49%. Advanced Drainage Systems’s dividend payout ratio is currently 10.19%.

Institutional Trading of Advanced Drainage Systems

A number of hedge funds have recently added to or reduced their stakes in the business. Swedbank AB purchased a new position in Advanced Drainage Systems during the 1st quarter valued at about $220,853,000. Vanguard Group Inc. increased its holdings 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 buying an additional 395,099 shares during the period. Boston Partners raised its stake in Advanced Drainage Systems by 16.9% in 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. State Street Corp lifted its holdings in Advanced Drainage Systems by 8.8% during the third quarter. State Street Corp now owns 2,541,688 shares of the construction company’s stock worth $399,452,000 after buying an additional 206,105 shares during the period. Finally, Millennium Management LLC boosted its position in 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 in the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

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.