Advanced Drainage Systems (NYSE:WMS) Sets New 1-Year Low – What’s Next?

Advanced Drainage Systems, Inc. (NYSE:WMS)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as $112.01 and last traded at $113.38, with a volume of 50463 shares trading hands. The stock had previously closed at $115.02.

Analysts Set New Price Targets

WMS has been the topic of a number of research reports. Robert W. Baird lowered their price target on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Loop Capital lowered their target price on 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. KeyCorp decreased their price target on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Stephens reissued an “equal weight” rating and issued a $135.00 price objective (down from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. Finally, UBS Group upgraded shares of Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Advanced Drainage Systems has a consensus rating of “Moderate Buy” and an average price target of $168.38.

Advanced Drainage Systems Stock Performance

The stock’s 50 day moving average price is $128.12 and its two-hundred day moving average price is $146.19. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.22 and a beta of 1.51. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.23). The firm had revenue of $782.60 million for the quarter, compared to analysts’ expectations of $819.41 million. Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $1.71 EPS. On average, analysts forecast that Advanced Drainage Systems, Inc. will post 6.12 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.16 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.64 annualized dividend and a dividend yield of 0.56%. Advanced Drainage Systems’s dividend payout ratio is presently 10.19%.

Institutional Trading of Advanced Drainage Systems

Several large investors have recently added to or reduced their stakes in WMS. State Street Corp grew its position in shares of 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 in the last quarter. Millennium Management LLC boosted its stake 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 during the last quarter. Point72 Asset Management L.P. acquired a new position in Advanced Drainage Systems during the 2nd quarter worth $21,657,000. Fernbridge Capital Management LP increased its position in shares of Advanced Drainage Systems by 108.2% in the 3rd quarter. Fernbridge Capital Management LP now owns 253,549 shares of the construction company’s stock worth $39,848,000 after purchasing an additional 131,781 shares during the last quarter. Finally, abrdn plc raised its stake in shares of Advanced Drainage Systems by 28.5% in the 3rd quarter. abrdn plc now owns 579,485 shares of the construction company’s stock valued at $91,683,000 after purchasing an additional 128,539 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

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.