Oppenheimer Cuts Advanced Drainage Systems (NYSE:WMS) Price Target to $184.00

Advanced Drainage Systems (NYSE:WMS) had its price objective reduced by research analysts at Oppenheimer from $192.00 to $184.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price objective suggests a potential upside of 40.49% from the company’s current price.

A number of other research firms have also recently weighed in on WMS. Robert W. Baird lowered their price target on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Loop Capital dropped their price objective on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Barclays reduced their price target on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating for the company in a report on Friday, August 9th. KeyCorp lowered their price objective on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday. Finally, StockNews.com downgraded shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $178.57.

Advanced Drainage Systems Stock Down 3.6 %

Shares of WMS stock opened at $130.97 on Monday. The stock has a market cap of $10.15 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.15 and a beta of 1.53. The company has a current ratio of 2.89, a quick ratio of 1.90 and a debt-to-equity ratio of 1.04. The company has a 50 day simple moving average of $150.84 and a two-hundred day simple moving average of $159.35. Advanced Drainage Systems has a 12 month low of $112.11 and a 12 month high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last announced 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 during the quarter, compared to the consensus estimate of $819.41 million. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.71 earnings per share. On average, research analysts expect that Advanced Drainage Systems will post 6.95 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alpha DNA Investment Management LLC raised its holdings in shares of Advanced Drainage Systems by 13.0% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 2,839 shares of the construction company’s stock valued at $446,000 after buying an additional 326 shares during the period. Cerity Partners LLC increased its stake in shares of Advanced Drainage Systems by 4.3% during the third quarter. Cerity Partners LLC now owns 28,432 shares of the construction company’s stock valued at $4,468,000 after acquiring an additional 1,160 shares during the period. Nicolet Advisory Services LLC grew its position in Advanced Drainage Systems by 5.7% in the third quarter. Nicolet Advisory Services LLC now owns 3,867 shares of the construction company’s stock worth $599,000 after buying an additional 210 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Advanced Drainage Systems by 15.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 562,052 shares of the construction company’s stock worth $88,332,000 after buying an additional 75,008 shares during the period. Finally, L & S Advisors Inc acquired a new stake in shares of Advanced Drainage Systems in the third quarter worth $2,177,000. 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.