Barclays Lowers Advanced Drainage Systems (NYSE:WMS) Price Target to $172.00

Advanced Drainage Systems (NYSE:WMS) had its price target cut by Barclays from $194.00 to $172.00 in a research report released on Monday morning,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Several other analysts have also issued reports on the stock. Robert W. Baird reduced their price target on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday. Oppenheimer lowered their price target on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating for the company in a report on Monday. StockNews.com lowered Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Loop Capital lowered their target price on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, KeyCorp reduced 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 assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $170.29.

Advanced Drainage Systems Stock Performance

NYSE:WMS opened at $133.05 on Monday. The stock has a 50 day simple moving average of $150.64 and a 200 day simple moving average of $159.16. The stock has a market cap of $10.31 billion, a P/E ratio of 21.19, a PEG ratio of 1.19 and a beta of 1.53. Advanced Drainage Systems has a 1-year low of $116.98 and a 1-year high of $184.27. 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 issued its quarterly earnings data 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 return on equity of 40.31% and a net margin of 16.89%. The business had revenue of $782.60 million during the quarter, compared to analyst estimates of $819.41 million. During the same quarter last year, the firm earned $1.71 EPS. Advanced Drainage Systems’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts anticipate 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. Stockholders of record on Monday, December 2nd will be given a dividend of $0.16 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.48%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 10.19%.

Institutional Investors Weigh In On Advanced Drainage Systems

Large investors have recently modified their holdings of the company. MetLife Investment Management LLC boosted its position in shares of Advanced Drainage Systems by 1.7% during the 3rd quarter. MetLife Investment Management LLC now owns 37,662 shares of the construction company’s stock valued at $5,919,000 after purchasing an additional 646 shares in the last quarter. Fernbridge Capital Management LP lifted its stake in Advanced Drainage Systems by 108.2% in the third quarter. Fernbridge Capital Management LP now owns 253,549 shares of the construction company’s stock valued at $39,848,000 after buying an additional 131,781 shares during the period. Townsquare Capital LLC boosted its holdings in shares of Advanced Drainage Systems by 5.1% during the 3rd quarter. Townsquare Capital LLC now owns 5,213 shares of the construction company’s stock worth $819,000 after buying an additional 255 shares in the last quarter. Thematics Asset Management grew its position in shares of Advanced Drainage Systems by 4.5% during the 3rd quarter. Thematics Asset Management now owns 93,500 shares of the construction company’s stock worth $14,694,000 after buying an additional 4,000 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of Advanced Drainage Systems in the 3rd quarter valued at $1,263,000. 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.