Advanced Drainage Systems (NYSE:WMS) Reaches New 1-Year Low – Here’s Why

Advanced Drainage Systems, Inc. (NYSE:WMS) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $125.44 and last traded at $126.31, with a volume of 19653 shares traded. The stock had previously closed at $128.09.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WMS. Loop Capital dropped their target price on Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Barclays lowered their price target on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. 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 research report on Monday, November 11th. Stephens reissued an “equal weight” rating and set a $135.00 price target (down previously from $170.00) on shares of Advanced Drainage Systems in a research report on Wednesday, November 13th. Finally, KeyCorp lowered their price target on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.29.

Advanced Drainage Systems Stock Down 1.3 %

The firm has a 50-day moving average price of $142.72 and a 200 day moving average price of $153.55. 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 company has a market cap of $9.80 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.25 and a beta of 1.48.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). The company had revenue of $782.60 million for the quarter, compared to analyst estimates of $819.41 million. Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.71 EPS. Sell-side analysts predict that Advanced Drainage Systems, Inc. will post 6.12 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems’s dividend payout ratio is currently 10.19%.

Institutional Investors Weigh In On Advanced Drainage Systems

A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in 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 purchasing an additional 206,105 shares during the last quarter. Advantage Alpha Capital Partners LP bought a new stake in Advanced Drainage Systems during the third quarter worth $8,540,000. Swedbank AB lifted its stake in Advanced Drainage Systems by 5.8% during the third quarter. Swedbank AB now owns 1,384,276 shares of the construction company’s stock worth $217,553,000 after purchasing an additional 75,455 shares during the last quarter. Zacks Investment Management bought a new stake in Advanced Drainage Systems during the third quarter worth $2,694,000. Finally, Assenagon Asset Management S.A. lifted its stake in Advanced Drainage Systems by 800.5% during the second quarter. Assenagon Asset Management S.A. now owns 18,353 shares of the construction company’s stock worth $2,944,000 after purchasing an additional 16,315 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

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.