Advanced Drainage Systems (NYSE:WMS) Given New $180.00 Price Target at Oppenheimer

Advanced Drainage Systems (NYSE:WMS) had its price objective boosted by Oppenheimer from $172.00 to $180.00 in a research note issued to investors on Thursday, Benzinga reports. Oppenheimer currently has an outperform rating on the construction company’s stock.

A number of other analysts have also recently commented on the stock. StockNews.com cut shares of Advanced Drainage Systems from a buy rating to a hold rating in a research note on Monday, April 8th. KeyCorp raised their target price on shares of Advanced Drainage Systems from $160.00 to $185.00 and gave the stock an overweight rating in a research note on Friday, February 9th. Finally, Stephens raised their target price on shares of Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an overweight rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $159.13.

Advanced Drainage Systems Stock Down 0.1 %

Advanced Drainage Systems stock opened at $156.73 on Thursday. The company has a market cap of $12.17 billion, a P/E ratio of 24.92, a price-to-earnings-growth ratio of 1.37 and a beta of 1.50. Advanced Drainage Systems has a 1-year low of $80.41 and a 1-year high of $176.31. The company has a fifty day simple moving average of $164.91 and a 200 day simple moving average of $138.60. The company has a current ratio of 3.03, a quick ratio of 2.04 and a debt-to-equity ratio of 1.18.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, February 8th. The construction company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.44. The firm had revenue of $662.37 million during the quarter, compared to analysts’ expectations of $632.69 million. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 earnings per share. Research analysts anticipate that Advanced Drainage Systems will post 6.07 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Thursday, February 29th. Advanced Drainage Systems’s dividend payout ratio (DPR) is 8.90%.

Insiders Place Their Bets

In other Advanced Drainage Systems news, EVP Michael G. Huebert sold 10,000 shares of Advanced Drainage Systems stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $163.52, for a total value of $1,635,200.00. Following the completion of the sale, the executive vice president now owns 13,450 shares in the company, valued at approximately $2,199,344. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Advanced Drainage Systems news, Director Ross M. Jones sold 762,895 shares of Advanced Drainage Systems stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total value of $124,351,885.00. Following the completion of the sale, the director now owns 70,749 shares in the company, valued at approximately $11,532,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael G. Huebert sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the completion of the transaction, the executive vice president now directly owns 13,450 shares in the company, valued at $2,199,344. The disclosure for this sale can be found here. Corporate insiders own 3.79% of the company’s stock.

Hedge Funds Weigh In On Advanced Drainage Systems

Several hedge funds have recently bought and sold shares of the company. State of Michigan Retirement System increased its holdings in Advanced Drainage Systems by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 16,800 shares of the construction company’s stock valued at $2,894,000 after buying an additional 400 shares during the period. New England Research & Management Inc. bought a new position in Advanced Drainage Systems in the 1st quarter valued at about $525,000. Harbour Capital Advisors LLC bought a new position in Advanced Drainage Systems in the 1st quarter valued at about $392,000. Jessup Wealth Management Inc bought a new position in Advanced Drainage Systems in the 1st quarter valued at about $371,000. Finally, Sunbelt Securities Inc. bought a new position in Advanced Drainage Systems in the 1st quarter valued at about $73,000. 89.83% of the stock is owned by institutional investors.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.