Robert W. Baird Cuts Advanced Drainage Systems (NYSE:WMS) Price Target to $141.00

Advanced Drainage Systems (NYSE:WMS) had its price objective lowered by Robert W. Baird from $146.00 to $141.00 in a research note published on Friday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the construction company’s stock.

A number of other research analysts have also weighed in on the stock. Loop Capital cut their target price on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating for the company in a report on Friday, February 7th. KeyCorp dropped their price objective on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a “buy” rating and a $134.00 target price on the stock. Stephens reaffirmed an “equal weight” rating and issued a $135.00 price target on shares of Advanced Drainage Systems in a report on Friday, February 7th. Finally, StockNews.com raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $139.88.

Advanced Drainage Systems Price Performance

WMS stock opened at $121.73 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.98 and a current ratio of 3.21. The company’s fifty day moving average price is $109.69 and its 200-day moving average price is $119.53. Advanced Drainage Systems has a one year low of $93.92 and a one year high of $181.03. The company has a market capitalization of $9.44 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.13 and a beta of 1.31.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, May 15th. The construction company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.06). The firm had revenue of $615.76 million during the quarter, compared to analysts’ expectations of $653.22 million. Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. On average, equities analysts anticipate that Advanced Drainage Systems will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $0.18 dividend. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Friday, May 30th. Advanced Drainage Systems’s dividend payout ratio is 10.70%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. United Services Automobile Association purchased a new stake in shares of Advanced Drainage Systems in the first quarter worth approximately $493,000. Nissay Asset Management Corp Japan ADV increased its stake in Advanced Drainage Systems by 160.9% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 200,074 shares of the construction company’s stock worth $21,738,000 after purchasing an additional 123,379 shares during the period. Gotham Asset Management LLC lifted its position in shares of Advanced Drainage Systems by 236.5% during the first quarter. Gotham Asset Management LLC now owns 154,997 shares of the construction company’s stock worth $16,840,000 after purchasing an additional 108,939 shares during the last quarter. Amundi lifted its position in shares of Advanced Drainage Systems by 38.2% during the first quarter. Amundi now owns 1,181,199 shares of the construction company’s stock worth $127,223,000 after purchasing an additional 326,435 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Advanced Drainage Systems by 23.9% during the first quarter. Royal Bank of Canada now owns 117,661 shares of the construction company’s stock valued at $12,785,000 after purchasing an additional 22,692 shares during the period. Hedge funds and other institutional investors 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.