Advanced Drainage Systems, Inc. (NYSE:WMS) Receives $170.29 Consensus PT from Brokerages

Advanced Drainage Systems, Inc. (NYSE:WMS) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $170.29.

Several brokerages recently weighed in on WMS. Stephens restated an “equal weight” rating and set a $135.00 target price (down from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. KeyCorp cut their price objective on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Oppenheimer lowered their target price on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Robert W. Baird cut 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 note on Monday, November 11th. Finally, Loop Capital lowered their price objective on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, November 11th.

Advanced Drainage Systems Stock Down 1.2 %

Shares of Advanced Drainage Systems stock opened at $115.58 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.19 and a quick ratio of 2.15. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.22 and a beta of 1.48. The firm’s 50-day moving average is $134.66 and its two-hundred day moving average is $149.72. Advanced Drainage Systems has a 1 year low of $113.88 and a 1 year high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Friday, November 8th. The construction company reported $1.70 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 firm had revenue of $782.60 million during the quarter, compared to the consensus estimate of $819.41 million. During the same quarter in the prior year, the firm posted $1.71 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts expect that Advanced Drainage Systems will post 6.12 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.55%. Advanced Drainage Systems’s dividend payout ratio is currently 10.19%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its holdings 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 valued at $399,452,000 after acquiring an additional 206,105 shares during the last quarter. Millennium Management LLC raised its stake in Advanced Drainage Systems by 136.2% in the 2nd quarter. Millennium Management LLC now owns 312,393 shares of the construction company’s stock valued at $50,105,000 after purchasing an additional 180,154 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Advanced Drainage Systems in the 2nd quarter valued at $21,657,000. Fernbridge Capital Management LP boosted its stake in Advanced Drainage Systems by 108.2% during 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 grew its holdings in shares of Advanced Drainage Systems by 28.5% during the third quarter. abrdn plc now owns 579,485 shares of the construction company’s stock worth $91,683,000 after buying an additional 128,539 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.