Analysts Set Advanced Drainage Systems, Inc. (NYSE:WMS) Target Price at $170.29

Advanced Drainage Systems, Inc. (NYSE:WMS) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $170.29.

WMS has been the subject of a number of recent analyst reports. Loop Capital reduced their target price on Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, November 11th. Robert W. Baird reduced their price objective on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Stephens reiterated an “equal weight” rating and issued a $135.00 target price (down from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. Barclays reduced their price target on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, KeyCorp decreased their price target on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, November 11th.

Advanced Drainage Systems Stock Performance

Shares of WMS opened at $115.58 on Wednesday. Advanced Drainage Systems has a 52 week low of $113.88 and a 52 week high of $184.27. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.15 and a current ratio of 3.19. The stock has a 50 day moving average price of $134.66 and a two-hundred day moving average price of $149.72. The firm has a market capitalization of $8.96 billion, a P/E ratio of 18.40, a P/E/G ratio of 1.22 and a beta of 1.48.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data 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). Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The business had revenue of $782.60 million during the quarter, compared to the consensus estimate of $819.41 million. During the same quarter last year, the company earned $1.71 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts forecast that Advanced Drainage Systems will post 6.12 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, December 2nd. Advanced Drainage Systems’s dividend payout ratio is currently 10.19%.

Institutional Investors Weigh In On Advanced Drainage Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp lifted its position in shares of 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. Zacks Investment Management purchased a new position in Advanced Drainage Systems in the 3rd quarter worth about $2,694,000. Advantage Alpha Capital Partners LP purchased a new position in Advanced Drainage Systems in the 3rd quarter worth about $8,540,000. Swedbank AB lifted its holdings in Advanced Drainage Systems by 5.8% during the 3rd quarter. Swedbank AB now owns 1,384,276 shares of the construction company’s stock valued at $217,553,000 after buying an additional 75,455 shares in the last quarter. Finally, Rathbones Group PLC boosted its position in Advanced Drainage Systems by 4.3% in the 2nd quarter. Rathbones Group PLC now owns 206,970 shares of the construction company’s stock valued at $33,196,000 after buying an additional 8,468 shares during the period. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Company Profile

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.