Advanced Drainage Systems (NYSE:WMS) Sets New 1-Year Low on Analyst Downgrade

Advanced Drainage Systems, Inc. (NYSE:WMS) hit a new 52-week low during trading on Wednesday after Barclays lowered their price target on the stock from $149.00 to $130.00. Barclays currently has an overweight rating on the stock. Advanced Drainage Systems traded as low as $93.92 and last traded at $97.01, with a volume of 68132 shares trading hands. The stock had previously closed at $96.79.

Several other equities research analysts also recently commented on the company. Stephens reissued an “equal weight” rating and issued a $135.00 price objective on shares of Advanced Drainage Systems in a report on Friday, February 7th. Loop Capital cut their price target on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, February 7th. KeyCorp lowered their price objective on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Advanced Drainage Systems in a research note on Tuesday, April 1st. They issued a “buy” rating and a $134.00 target price for the company. Finally, StockNews.com downgraded Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and a consensus price target of $153.78.

Hedge Funds Weigh In On Advanced Drainage Systems

Several institutional investors and hedge funds have recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in Advanced Drainage Systems in the 1st quarter valued at $26,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter worth $74,000. UMB Bank n.a. boosted its position in shares of Advanced Drainage Systems by 12.7% in the fourth quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock valued at $90,000 after acquiring an additional 88 shares during the period. Spire Wealth Management acquired a new position in shares of Advanced Drainage Systems in the fourth quarter valued at about $94,000. Finally, First Horizon Advisors Inc. increased its position in Advanced Drainage Systems by 18.3% during the fourth quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company’s stock worth $102,000 after acquiring an additional 137 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Down 5.3 %

The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.13 and a beta of 1.48. The firm’s 50 day simple moving average is $112.54 and its two-hundred day simple moving average is $126.91.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. On average, equities analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Friday, February 28th. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 10.70%.

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.