Advanced Drainage Systems, Inc. (NYSE:WMS) Receives $188.38 Average PT from Brokerages

Advanced Drainage Systems, Inc. (NYSE:WMS) has earned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $188.3750.

Several equities analysts have recently commented on the stock. Stephens raised shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $190.00 to $175.00 in a research report on Wednesday, May 27th. Royal Bank Of Canada lifted their target price on shares of Advanced Drainage Systems from $170.00 to $178.00 and gave the company an “outperform” rating in a report on Friday, August 7th. UBS Group boosted their target price on Advanced Drainage Systems from $205.00 to $207.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Oppenheimer decreased their price target on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Friday, July 17th.

Hedge Funds Weigh In On Advanced Drainage Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of WMS. Northwestern Mutual Wealth Management Co. lifted its position in shares of Advanced Drainage Systems by 352.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after purchasing an additional 176 shares in the last quarter. Baird Financial Group Inc. boosted its stake in shares of Advanced Drainage Systems by 1.8% in the second quarter. Baird Financial Group Inc. now owns 21,049 shares of the construction company’s stock valued at $2,418,000 after purchasing an additional 382 shares during the period. Brown Advisory Inc. grew its holdings in shares of Advanced Drainage Systems by 14.0% in the second quarter. Brown Advisory Inc. now owns 4,784 shares of the construction company’s stock valued at $549,000 after purchasing an additional 588 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Advanced Drainage Systems in the second quarter valued at approximately $403,000. Finally, California Public Employees Retirement System grew its holdings in shares of Advanced Drainage Systems by 2.2% in the second quarter. California Public Employees Retirement System now owns 101,512 shares of the construction company’s stock valued at $11,660,000 after purchasing an additional 2,206 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Up 1.0%

Shares of NYSE:WMS opened at $143.91 on Monday. The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.56 and a beta of 1.27. Advanced Drainage Systems has a 12-month low of $128.03 and a 12-month high of $179.32. The business has a 50-day moving average price of $146.28 and a 200 day moving average price of $147.31. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.39. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $991.39 million. During the same quarter last year, the firm posted $1.95 earnings per share. Advanced Drainage Systems’s revenue was up 20.6% compared to the same quarter last year. Sell-side analysts expect that Advanced Drainage Systems will post 6.62 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.80 annualized dividend and a yield of 0.6%. Advanced Drainage Systems’s dividend payout ratio is presently 13.82%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.